Powell Investment Advisors LLC Increases Stake in Invesco QQQ Trust (NASDAQ:QQQ)


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Powell Investment Advisors LLC grew its holdings in Invesco QQQ Trust (NASDAQ:QQQ) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,074 shares of the exchange traded fund’s stock after buying an additional 2,250 shares during the quarter. Invesco QQQ Trust makes up 3.8% of Powell Investment Advisors LLC’s portfolio, making the stock its 9th largest position. Powell Investment Advisors LLC’s holdings in Invesco QQQ Trust were worth $5,043,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Claudia M.P. Batlle CRP R LLC acquired a new stake in Invesco QQQ Trust in the 3rd quarter valued at about $28,000. Barnett & Company Inc. grew its stake in shares of Invesco QQQ Trust by 250.0% during the third quarter. Barnett & Company Inc. now owns 140 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. TFC Financial Management acquired a new stake in shares of Invesco QQQ Trust in the third quarter valued at approximately $78,000. Fiduciary Planning LLC bought a new position in Invesco QQQ Trust in the 3rd quarter worth approximately $95,000. Finally, O Shaughnessy Asset Management LLC raised its position in Invesco QQQ Trust by 126.5% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 385 shares of the exchange traded fund’s stock worth $107,000 after purchasing an additional 215 shares during the last quarter. 42.99% of the stock is owned by institutional investors and hedge funds.

NASDAQ QQQ opened at $316.04 on Thursday. Invesco QQQ Trust has a 52 week low of $164.93 and a 52 week high of $319.39. The stock has a fifty day moving average of $311.56 and a 200-day moving average of $295.30.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Tuesday, December 22nd were issued a $0.561 dividend. This is a boost from Invesco QQQ Trust’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Monday, December 21st. This represents a $2.24 annualized dividend and a yield of 0.71%.

About Invesco QQQ Trust

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.

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Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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