Kovack Advisors Inc. Sells 1,292 Shares of Invesco QQQ Trust (NASDAQ:QQQ)

Kovack Advisors Inc. lowered its position in Invesco QQQ Trust (NASDAQ:QQQ) by 5.7% during the fourth quarter, Holdings Channel reports. The firm owned 21,241 shares of the exchange traded fund’s stock after selling 1,292 shares during the period. Invesco QQQ Trust comprises 1.0% of Kovack Advisors Inc.’s portfolio, making the stock its 12th largest holding. Kovack Advisors Inc.’s holdings in Invesco QQQ Trust were worth $6,664,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the business. Claudia M.P. Batlle CRP R LLC bought a new position in shares of Invesco QQQ Trust in the third quarter valued at $28,000. Barnett & Company Inc. raised its position in shares of Invesco QQQ Trust by 250.0% in the 3rd quarter. Barnett & Company Inc. now owns 140 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. TFC Financial Management bought a new position in Invesco QQQ Trust in the 3rd quarter worth about $78,000. Fiduciary Planning LLC purchased a new stake in Invesco QQQ Trust during the 3rd quarter valued at about $95,000. Finally, O Shaughnessy Asset Management LLC increased its stake in Invesco QQQ Trust by 126.5% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 385 shares of the exchange traded fund’s stock valued at $107,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 42.99% of the company’s stock.

Shares of QQQ traded up $0.19 on Thursday, hitting $316.23. 670,484 shares of the stock traded hands, compared to its average volume of 34,573,328. Invesco QQQ Trust has a one year low of $164.93 and a one year high of $319.39. The business has a 50 day simple moving average of $311.56 and a 200 day simple moving average of $295.30.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Shareholders of record on Tuesday, December 22nd were paid a dividend of $0.561 per share. This represents a $2.24 annualized dividend and a yield of 0.71%. This is an increase from Invesco QQQ Trust’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Monday, December 21st.

Invesco QQQ Trust 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.

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

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