J.W. Cole Advisors Inc. Buys 767 Shares of Invesco QQQ (NASDAQ:QQQ)

J.W. Cole Advisors Inc. grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,911 shares of the exchange traded fund’s stock after acquiring an additional 767 shares during the quarter. Invesco QQQ comprises approximately 2.5% of J.W. Cole Advisors Inc.’s investment portfolio, making the stock its 3rd largest holding. J.W. Cole Advisors Inc.’s holdings in Invesco QQQ were worth $53,139,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of QQQ. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ in the 1st quarter worth approximately $28,000. Deane Retirement Strategies Inc. acquired a new position in Invesco QQQ in the 1st quarter worth approximately $29,000. Mechanics Financial Corp acquired a new position in Invesco QQQ in the 2nd quarter worth approximately $30,000. Legacy Bridge LLC increased its holdings in Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after buying an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. acquired a new position in Invesco QQQ in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $475.34 on Friday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The stock’s 50 day simple moving average is $470.09 and its two-hundred day simple moving average is $457.07.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were given a $0.7615 dividend. This represents a $3.05 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

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.