Invesco QQQ $QQQ is IFP Advisors Inc’s 5th Largest Position

IFP Advisors Inc lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 30.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,336 shares of the exchange traded fund’s stock after selling 40,033 shares during the quarter. Invesco QQQ comprises approximately 1.4% of IFP Advisors Inc’s portfolio, making the stock its 5th biggest position. IFP Advisors Inc’s holdings in Invesco QQQ were worth $49,845,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Compass Financial Services Inc raised its position in shares of Invesco QQQ by 0.4% in the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock worth $2,345,000 after purchasing an additional 19 shares during the last quarter. Vermillion Wealth Management Inc. raised its position in shares of Invesco QQQ by 4.2% in the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock worth $271,000 after purchasing an additional 20 shares during the last quarter. Barrett & Company Inc. raised its position in shares of Invesco QQQ by 14.9% in the 2nd quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock worth $85,000 after purchasing an additional 20 shares during the last quarter. MTM Investment Management LLC raised its position in shares of Invesco QQQ by 1.6% in the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock worth $613,000 after purchasing an additional 21 shares during the last quarter. Finally, Cutler Investment Counsel LLC raised its position in shares of Invesco QQQ by 1.4% in the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock worth $710,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 3.5%

QQQ opened at $589.55 on Friday. The stock has a 50-day moving average price of $583.89 and a 200-day moving average price of $535.94. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $613.18.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued a $0.694 dividend. This represents a $2.78 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59.

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.