Invesco QQQ (NASDAQ:QQQ) is Miracle Mile Advisors LLC’s 3rd Largest Position

Miracle Mile Advisors LLC increased its position in Invesco QQQ (NASDAQ:QQQ) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 386,635 shares of the exchange traded fund’s stock after acquiring an additional 9,657 shares during the period. Invesco QQQ comprises approximately 4.3% of Miracle Mile Advisors LLC’s holdings, making the stock its 3rd largest position. Miracle Mile Advisors LLC owned approximately 0.07% of Invesco QQQ worth $171,670,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Kowal Investment Group LLC raised its holdings in Invesco QQQ by 6.9% in the 1st quarter. Kowal Investment Group LLC now owns 1,511 shares of the exchange traded fund’s stock worth $671,000 after acquiring an additional 97 shares during the last quarter. HFG Advisors Inc. raised its stake in Invesco QQQ by 0.9% during the 1st quarter. HFG Advisors Inc. now owns 22,352 shares of the exchange traded fund’s stock valued at $9,924,000 after buying an additional 192 shares during the last quarter. BKM Wealth Management LLC raised its stake in Invesco QQQ by 42.2% during the 1st quarter. BKM Wealth Management LLC now owns 9,341 shares of the exchange traded fund’s stock valued at $4,147,000 after buying an additional 2,774 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in Invesco QQQ by 2.8% during the 1st quarter. Wolff Wiese Magana LLC now owns 1,850 shares of the exchange traded fund’s stock valued at $821,000 after buying an additional 51 shares during the last quarter. Finally, Fifth Third Securities Inc. raised its stake in Invesco QQQ by 0.7% during the 1st quarter. Fifth Third Securities Inc. now owns 103,293 shares of the exchange traded fund’s stock valued at $45,922,000 after buying an additional 714 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.6 %

Shares of QQQ opened at $481.92 on Tuesday. The firm has a fifty day simple moving average of $454.85 and a two-hundred day simple moving average of $436.77. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $487.20.

Invesco QQQ Increases Dividend

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

Invesco QQQ 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.