Davies Financial Advisors Inc. Decreases Stock Position in Invesco QQQ $QQQ

Davies Financial Advisors Inc. lowered its position in Invesco QQQ (NASDAQ:QQQ) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 47,492 shares of the exchange traded fund’s stock after selling 696 shares during the period. Invesco QQQ comprises approximately 20.3% of Davies Financial Advisors Inc.’s holdings, making the stock its largest position. Davies Financial Advisors Inc.’s holdings in Invesco QQQ were worth $26,198,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Kingstone Capital Partners Texas LLC grew its position in shares of Invesco QQQ by 704,593.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock worth $37,299,340,000 after purchasing an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. bought a new position in Invesco QQQ in the 1st quarter worth approximately $2,775,904,000. Altimeter Capital Management LP purchased a new stake in Invesco QQQ during the 1st quarter valued at approximately $463,293,000. Finally, Alaska Permanent Fund Corp raised its position in shares of Invesco QQQ by 14,750.7% during the first quarter. Alaska Permanent Fund Corp now owns 799,266 shares of the exchange traded fund’s stock valued at $380,027,000 after buying an additional 793,884 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $608.40 on Friday. The firm has a fifty day moving average price of $605.20 and a 200 day moving average price of $563.62. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $637.01.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, September 22nd were paid a $0.694 dividend. This represents a $2.78 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, September 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59.

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.