Kovack Advisors Inc. Buys 13,961 Shares of Invesco QQQ (NASDAQ:QQQ)

Kovack Advisors Inc. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 18.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 88,079 shares of the exchange traded fund’s stock after purchasing an additional 13,961 shares during the quarter. Invesco QQQ comprises 4.3% of Kovack Advisors Inc.’s portfolio, making the stock its 3rd largest position. Kovack Advisors Inc.’s holdings in Invesco QQQ were worth $36,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in QQQ. International Assets Investment Management LLC increased its position in Invesco QQQ by 40,957.3% in the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after acquiring an additional 28,263,426 shares during the period. Envestnet Asset Management Inc. increased its position in Invesco QQQ by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,531,165 shares of the exchange traded fund’s stock valued at $1,623,380,000 after acquiring an additional 52,019 shares during the period. Ameriprise Financial Inc. increased its position in Invesco QQQ by 6.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund’s stock valued at $1,530,696,000 after acquiring an additional 243,305 shares during the period. Commonwealth Equity Services LLC increased its position in Invesco QQQ by 5.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,312,133 shares of the exchange traded fund’s stock valued at $828,368,000 after acquiring an additional 114,095 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Invesco QQQ by 2.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,852,000 shares of the exchange traded fund’s stock valued at $663,516,000 after acquiring an additional 43,000 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 1.5 %

Shares of QQQ stock traded up $6.55 during mid-day trading on Friday, hitting $431.00. 41,598,392 shares of the stock traded hands, compared to its average volume of 46,137,730. Invesco QQQ has a twelve month low of $315.05 and a twelve month high of $449.34. The company’s 50-day simple moving average is $436.88 and its 200-day simple moving average is $410.11.

Invesco QQQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. This represents a $2.29 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, March 18th.

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.