Kovack Advisors Inc. Has $30.58 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Kovack Advisors Inc. trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 21.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,862 shares of the exchange traded fund’s stock after selling 19,217 shares during the period. Invesco QQQ accounts for approximately 3.7% of Kovack Advisors Inc.’s holdings, making the stock its 5th largest position. Kovack Advisors Inc.’s holdings in Invesco QQQ were worth $30,575,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in QQQ. International Assets Investment Management LLC grew its position in Invesco QQQ by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after acquiring an additional 28,263,426 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Invesco QQQ during the 1st quarter worth $1,580,776,000. CHURCHILL MANAGEMENT Corp boosted its holdings in shares of Invesco QQQ by 30.7% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock worth $819,814,000 after buying an additional 433,317 shares during the period. Comerica Bank bought a new stake in shares of Invesco QQQ during the 3rd quarter worth $140,657,000. Finally, Granite Bay Wealth Management LLC boosted its holdings in shares of Invesco QQQ by 47.1% during the 4th quarter. Granite Bay Wealth Management LLC now owns 1,183,279 shares of the exchange traded fund’s stock worth $451,075,000 after buying an additional 378,922 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Up 0.8 %

NASDAQ QQQ opened at $491.04 on Friday. The company has a fifty day simple moving average of $458.64 and a 200 day simple moving average of $438.27. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $491.17.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be issued a dividend of $0.7615 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, June 24th.

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.