Avantax Planning Partners Inc. Increases Position in Invesco QQQ (NASDAQ:QQQ)

Avantax Planning Partners Inc. lifted its stake in Invesco QQQ (NASDAQ:QQQ) by 5.8% in the 1st quarter, HoldingsChannel reports. The fund owned 10,267 shares of the exchange traded fund’s stock after purchasing an additional 561 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Invesco QQQ were worth $4,815,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Calamos Wealth Management LLC grew its stake in shares of Invesco QQQ by 51.5% during the first quarter. Calamos Wealth Management LLC now owns 8,128 shares of the exchange traded fund’s stock worth $3,811,000 after acquiring an additional 2,763 shares during the last quarter. Sterling Financial Planning Inc. increased its stake in Invesco QQQ by 1.8% during the 1st quarter. Sterling Financial Planning Inc. now owns 6,760 shares of the exchange traded fund’s stock valued at $3,170,000 after purchasing an additional 117 shares in the last quarter. TKG Advisors LLC raised its holdings in shares of Invesco QQQ by 1.9% in the first quarter. TKG Advisors LLC now owns 14,852 shares of the exchange traded fund’s stock worth $6,965,000 after buying an additional 282 shares during the last quarter. North Capital Inc. purchased a new position in shares of Invesco QQQ in the first quarter worth $2,054,000. Finally, Mountain Capital Investment Advisors Inc. lifted its position in Invesco QQQ by 13.0% during the 1st quarter. Mountain Capital Investment Advisors Inc. now owns 520 shares of the exchange traded fund’s stock worth $243,000 after acquiring an additional 60 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $555.88 on Friday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $557.20. The business has a 50-day moving average price of $517.86 and a 200-day moving average price of $504.61.

Invesco QQQ Cuts Dividend

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

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.