Avaii Wealth Management LLC Increases Stake in Invesco QQQ (NASDAQ:QQQ)

Avaii Wealth Management LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,797 shares of the exchange traded fund’s stock after purchasing an additional 280 shares during the period. Invesco QQQ makes up about 3.4% of Avaii Wealth Management LLC’s investment portfolio, making the stock its 7th biggest position. Avaii Wealth Management LLC’s holdings in Invesco QQQ were worth $5,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. IMA Wealth Inc. lifted its position in shares of Invesco QQQ by 1.3% in the 3rd quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock worth $695,000 after purchasing an additional 25 shares during the period. S.A. Mason LLC lifted its stake in shares of Invesco QQQ by 1.5% during the fourth quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock worth $696,000 after buying an additional 25 shares during the period. Lauterbach Financial Advisors LLC grew its stake in Invesco QQQ by 0.4% during the 4th quarter. Lauterbach Financial Advisors LLC now owns 5,606 shares of the exchange traded fund’s stock valued at $2,296,000 after purchasing an additional 25 shares during the last quarter. Cedrus LLC lifted its stake in Invesco QQQ by 1.7% during the 4th quarter. Cedrus LLC now owns 1,456 shares of the exchange traded fund’s stock valued at $596,000 after acquiring an additional 25 shares during the period. Finally, Waterfront Wealth Inc. boosted its holdings in Invesco QQQ by 3.1% in the fourth quarter. Waterfront Wealth Inc. now owns 840 shares of the exchange traded fund’s stock valued at $344,000 after purchasing an additional 25 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ stock traded up $1.61 during mid-day trading on Monday, reaching $432.61. 14,857,160 shares of the company’s stock were exchanged, compared to its average volume of 45,743,563. Invesco QQQ has a 12-month low of $315.11 and a 12-month high of $449.34. The stock’s 50 day moving average is $436.88 and its 200 day moving average is $410.68.

Invesco QQQ Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be issued a $0.5735 dividend. The ex-dividend date of this dividend is Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a yield of 0.53%.

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.