Kovack Advisors Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) by 18.8% during the fourth quarter, Holdings Channel reports. The firm owned 88,079 shares of the exchange traded fund’s stock after buying an additional 13,961 shares during the period. Invesco QQQ comprises 4.3% of Kovack Advisors Inc.’s holdings, making the stock its 3rd biggest holding. Kovack Advisors Inc.’s holdings in Invesco QQQ were worth $36,070,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Red Tortoise LLC boosted its holdings in shares of Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after acquiring an additional 74 shares in the last quarter. Friedenthal Financial bought a new position in Invesco QQQ in the 4th quarter worth approximately $41,000. Bear Mountain Capital Inc. bought a new position in Invesco QQQ in the 4th quarter worth approximately $42,000. Core Wealth Advisors Inc. raised its position in Invesco QQQ by 33.3% in the 3rd quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after purchasing an additional 30 shares during the last quarter. Finally, Blume Capital Management Inc. raised its position in Invesco QQQ by 104.0% in the 3rd quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock worth $48,000 after purchasing an additional 3,500 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.
Invesco QQQ Stock Performance
QQQ stock traded up $6.55 during trading on Friday, hitting $431.00. The company had a trading volume of 41,598,392 shares, compared to its average volume of 46,137,730. The firm has a 50-day moving average price of $436.88 and a 200-day moving average price of $410.11. Invesco QQQ has a 12 month low of $315.05 and a 12 month high of $449.34.
Invesco QQQ Dividend Announcement
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.
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