Florida Financial Advisors LLC Has $11.45 Million Position in Invesco QQQ (NASDAQ:QQQ)

Florida Financial Advisors LLC increased its stake in Invesco QQQ (NASDAQ:QQQ) by 8.6% during the fourth quarter, Holdings Channel reports. The firm owned 22,402 shares of the exchange traded fund’s stock after acquiring an additional 1,766 shares during the period. Invesco QQQ makes up approximately 5.1% of Florida Financial Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Florida Financial Advisors LLC’s holdings in Invesco QQQ were worth $11,453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of QQQ. Proficio Capital Partners LLC boosted its stake in shares of Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after purchasing an additional 11,478,188 shares in the last quarter. Toronto Dominion Bank increased its position in Invesco QQQ by 13.0% in the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after acquiring an additional 488,815 shares during the period. Strategic Financial Concepts LLC increased its holdings in Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after purchasing an additional 4,105,389 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock worth $1,593,354,000 after buying an additional 27,115 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in shares of Invesco QQQ by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund’s stock valued at $1,239,886,000 after buying an additional 52,235 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 2.0 %

Shares of QQQ stock opened at $490.66 on Tuesday. The stock has a 50-day moving average of $511.00 and a 200-day moving average of $504.66. The stock has a market cap of $309.24 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

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.