Invesco QQQ (NASDAQ:QQQ) is Raymond James Financial Services Advisors Inc.’s 7th Largest Position

Raymond James Financial Services Advisors Inc. boosted its position in Invesco QQQ (NASDAQ:QQQ) by 10.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,241,509 shares of the exchange traded fund’s stock after buying an additional 206,608 shares during the quarter. Invesco QQQ makes up approximately 1.5% of Raymond James Financial Services Advisors Inc.’s portfolio, making the stock its 7th biggest position. Raymond James Financial Services Advisors Inc. owned about 0.37% of Invesco QQQ worth $1,073,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brand Asset Management Group Inc. boosted its stake in shares of Invesco QQQ by 26.8% during the second quarter. Brand Asset Management Group Inc. now owns 1,183 shares of the exchange traded fund’s stock valued at $567,000 after purchasing an additional 250 shares during the period. Apollon Financial LLC boosted its stake in shares of Invesco QQQ by 1.6% during the second quarter. Apollon Financial LLC now owns 6,071 shares of the exchange traded fund’s stock valued at $2,909,000 after purchasing an additional 97 shares during the period. Means Investment CO. Inc. boosted its stake in shares of Invesco QQQ by 12.2% during the second quarter. Means Investment CO. Inc. now owns 2,422 shares of the exchange traded fund’s stock valued at $1,161,000 after purchasing an additional 263 shares during the period. Platte River Wealth Advisors LLC boosted its stake in shares of Invesco QQQ by 0.3% during the second quarter. Platte River Wealth Advisors LLC now owns 26,506 shares of the exchange traded fund’s stock valued at $12,699,000 after purchasing an additional 83 shares during the period. Finally, Meridian Investment Counsel Inc. boosted its stake in shares of Invesco QQQ by 317.5% during the second quarter. Meridian Investment Counsel Inc. now owns 5,252 shares of the exchange traded fund’s stock valued at $2,516,000 after purchasing an additional 3,994 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $6.24 during trading on Monday, reaching $481.27. 23,104,023 shares of the company traded hands, compared to its average volume of 40,921,672. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The business’s fifty day moving average is $474.69 and its 200-day moving average is $452.36.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were paid a dividend of $0.7615 per share. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

Invesco QQQ Company 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.