Aviance Capital Partners LLC Raises Stake in Invesco QQQ (NASDAQ:QQQ)

Aviance Capital Partners LLC raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 41.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,381 shares of the exchange traded fund’s stock after acquiring an additional 1,867 shares during the period. Aviance Capital Partners LLC’s holdings in Invesco QQQ were worth $2,833,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Chapin Davis Inc. lifted its holdings in shares of Invesco QQQ by 436.6% in the 1st quarter. Chapin Davis Inc. now owns 4,738 shares of the exchange traded fund’s stock valued at $2,104,000 after buying an additional 3,855 shares during the period. Pettinga Financial Advisors LLC lifted its holdings in Invesco QQQ by 4.3% in the first quarter. Pettinga Financial Advisors LLC now owns 15,002 shares of the exchange traded fund’s stock valued at $6,661,000 after acquiring an additional 619 shares during the period. Omega Financial Group LLC boosted its position in Invesco QQQ by 6.2% in the 1st quarter. Omega Financial Group LLC now owns 9,024 shares of the exchange traded fund’s stock worth $4,007,000 after purchasing an additional 525 shares in the last quarter. Scott Capital Advisors LLC grew its stake in shares of Invesco QQQ by 14.0% during the 1st quarter. Scott Capital Advisors LLC now owns 53,606 shares of the exchange traded fund’s stock worth $23,706,000 after purchasing an additional 6,595 shares during the period. Finally, PPSC Investment Service Corp increased its holdings in shares of Invesco QQQ by 9.2% during the 1st quarter. PPSC Investment Service Corp now owns 260,400 shares of the exchange traded fund’s stock valued at $115,620,000 after purchasing an additional 21,900 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $481.92 on Tuesday. Invesco QQQ has a one year low of $342.35 and a one year high of $487.20. The firm’s fifty day moving average is $454.85 and its 200 day moving average is $436.77.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be paid a $0.7615 dividend. This represents a $3.05 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

Invesco QQQ Company Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.