Envestnet Portfolio Solutions Inc. Has $31.37 Million Stock Position in Invesco QQQ $QQQ

Envestnet Portfolio Solutions Inc. boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,066 shares of the exchange traded fund’s stock after acquiring an additional 5,890 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Invesco QQQ were worth $31,370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in QQQ. Goodman Advisory Group LLC bought a new stake in shares of Invesco QQQ in the 3rd quarter valued at $25,000. Shcp LLC acquired a new stake in shares of Invesco QQQ during the third quarter worth $27,000. Rachor Investment Advisory Services LLC bought a new position in Invesco QQQ during the fourth quarter worth $29,000. Measured Wealth Private Client Group LLC acquired a new position in Invesco QQQ in the third quarter valued at $40,000. Finally, Morgan Dempsey Capital Management LLC lifted its holdings in Invesco QQQ by 45.5% in the third 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. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.4%

Shares of QQQ opened at $705.88 on Tuesday. The firm’s fifty day simple moving average is $630.32 and its two-hundred day simple moving average is $620.72. Invesco QQQ has a 12 month low of $505.58 and a 12 month high of $722.03.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were given a dividend of $0.7328 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.93 annualized dividend and a dividend 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.