HighTower Advisors LLC Grows Position in Invesco QQQ $QQQ

HighTower Advisors LLC grew its stake in Invesco QQQ (NASDAQ:QQQ) by 9.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,203,564 shares of the exchange traded fund’s stock after acquiring an additional 101,141 shares during the quarter. Invesco QQQ comprises approximately 0.8% of HighTower Advisors LLC’s investment portfolio, making the stock its 16th biggest position. HighTower Advisors LLC’s holdings in Invesco QQQ were worth $739,361,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Goodman Advisory Group LLC purchased a new stake in Invesco QQQ in the third quarter valued at $25,000. Shcp LLC purchased a new position in shares of Invesco QQQ in the third quarter valued at approximately $27,000. Rachor Investment Advisory Services LLC purchased a new position in Invesco QQQ in the 4th quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC purchased a new position in Invesco QQQ in the third quarter valued at $40,000. Finally, Morgan Dempsey Capital Management LLC boosted its stake in shares of Invesco QQQ by 45.5% in the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 80 shares of the exchange traded fund’s stock valued at $48,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.4%

NASDAQ QQQ opened at $705.88 on Tuesday. The firm has a 50 day moving average of $630.32 and a two-hundred day moving average of $620.72. Invesco QQQ has a 52 week low of $505.58 and a 52 week high of $722.03.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were issued a $0.7328 dividend. This represents a $2.93 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, March 23rd.

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.