Invesco QQQ (NASDAQ:QQQ) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,862 shares of the exchange traded fund’s stock after selling 19,217 shares during the period. Invesco QQQ makes up approximately 3.7% of Kovack Advisors Inc.’s holdings, making the stock its 5th largest position. Kovack Advisors Inc.’s holdings in Invesco QQQ were worth $30,575,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Summit X LLC increased its stake in Invesco QQQ by 0.4% during the 4th quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock worth $2,451,000 after buying an additional 24 shares during the period. IMA Wealth Inc. increased its stake in Invesco QQQ by 1.3% during the 3rd quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock worth $695,000 after buying an additional 25 shares during the period. S.A. Mason LLC increased its stake in Invesco QQQ by 1.5% during the 4th quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock worth $696,000 after buying an additional 25 shares during the period. Lauterbach Financial Advisors LLC increased its stake in Invesco QQQ by 0.4% during the 4th quarter. Lauterbach Financial Advisors LLC now owns 5,606 shares of the exchange traded fund’s stock worth $2,296,000 after buying an additional 25 shares during the period. Finally, Cedrus LLC increased its stake in Invesco QQQ by 1.7% during the 4th quarter. Cedrus LLC now owns 1,456 shares of the exchange traded fund’s stock worth $596,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ opened at $491.04 on Friday. The company has a 50-day moving average of $458.64 and a 200-day moving average of $438.27. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $491.17.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th will be given a $0.7615 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.62%. This is an increase 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.