Kovack Advisors Inc. Has $18.26 Million Stock Position in Invesco QQQ $QQQ

Kovack Advisors Inc. decreased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 17.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,096 shares of the exchange traded fund’s stock after selling 7,084 shares during the quarter. Invesco QQQ comprises approximately 1.8% of Kovack Advisors Inc.’s investment portfolio, making the stock its 8th biggest holding. Kovack Advisors Inc.’s holdings in Invesco QQQ were worth $18,257,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of QQQ. Morgan Dempsey Capital Management LLC acquired a new position in shares of Invesco QQQ in the 2nd quarter valued at $30,000. Marshall & Sullivan Inc. WA bought a new position in Invesco QQQ during the second quarter worth about $41,000. Moser Wealth Advisors LLC lifted its holdings in Invesco QQQ by 930.0% during the second quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock worth $57,000 after acquiring an additional 93 shares in the last quarter. Blume Capital Management Inc. grew its stake in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after acquiring an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC increased its holdings in shares of Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.5%

NASDAQ QQQ opened at $626.05 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $637.01. The stock’s 50-day moving average is $595.56 and its 200-day moving average is $551.96.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.694 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd. This represents a $2.78 annualized dividend and a yield of 0.4%.

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.