Wealthfront Advisers LLC Boosts Holdings in Invesco QQQ (NASDAQ:QQQ)

Wealthfront Advisers LLC boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 186,745 shares of the exchange traded fund’s stock after buying an additional 13,929 shares during the quarter. Wealthfront Advisers LLC’s holdings in Invesco QQQ were worth $87,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QQQ. Mosaic Family Wealth Partners LLC lifted its position in shares of Invesco QQQ by 26.8% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 1,752 shares of the exchange traded fund’s stock valued at $822,000 after buying an additional 370 shares in the last quarter. Landaas & Co. WI ADV bought a new position in shares of Invesco QQQ in the first quarter worth approximately $423,000. Kaye Capital Management increased its stake in shares of Invesco QQQ by 4.7% in the first quarter. Kaye Capital Management now owns 40,782 shares of the exchange traded fund’s stock worth $19,124,000 after purchasing an additional 1,837 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Invesco QQQ by 1.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 62,451 shares of the exchange traded fund’s stock valued at $29,284,000 after purchasing an additional 903 shares during the period. Finally, Future You Wealth LLC purchased a new position in shares of Invesco QQQ during the 1st quarter valued at $210,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.4%

Shares of Invesco QQQ stock opened at $556.21 on Tuesday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $559.98. The company has a fifty day moving average of $528.46 and a 200 day moving average of $505.81.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.43%.

About Invesco QQQ

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.