Powell Investment Advisors LLC Raises Stock Position in Invesco QQQ (NASDAQ:QQQ)

Powell Investment Advisors LLC raised its position in Invesco QQQ (NASDAQ:QQQ) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,700 shares of the exchange traded fund’s stock after purchasing an additional 85 shares during the quarter. Invesco QQQ accounts for approximately 5.1% of Powell Investment Advisors LLC’s holdings, making the stock its 6th biggest holding. Powell Investment Advisors LLC’s holdings in Invesco QQQ were worth $11,093,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after buying an additional 32,516,210 shares during the period. Strategic Financial Concepts LLC grew its position in Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after acquiring an additional 4,105,389 shares during the last quarter. Toronto Dominion Bank increased its stake in Invesco QQQ by 13.0% in the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after purchasing an additional 488,815 shares during the period. Cibc World Market Inc. lifted its position in shares of Invesco QQQ by 90.0% during the fourth quarter. Cibc World Market Inc. now owns 686,117 shares of the exchange traded fund’s stock worth $350,764,000 after purchasing an additional 324,948 shares during the last quarter. Finally, Empirical Asset Management LLC boosted its stake in shares of Invesco QQQ by 15,676.3% during the fourth quarter. Empirical Asset Management LLC now owns 202,883 shares of the exchange traded fund’s stock valued at $103,720,000 after purchasing an additional 201,597 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $522.92 on Monday. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $539.15. The company’s 50-day moving average price is $521.26 and its 200-day moving average price is $495.67.

Invesco QQQ Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

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.