Kingswood Wealth Advisors LLC Has $29.30 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Kingswood Wealth Advisors LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ) by 41.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,310 shares of the exchange traded fund’s stock after purchasing an additional 16,735 shares during the period. Invesco QQQ comprises about 2.2% of Kingswood Wealth Advisors LLC’s investment portfolio, making the stock its 5th largest position. Kingswood Wealth Advisors LLC’s holdings in Invesco QQQ were worth $29,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in QQQ. PFG Investments LLC grew its position in shares of Invesco QQQ by 1.9% during the 4th quarter. PFG Investments LLC now owns 36,180 shares of the exchange traded fund’s stock worth $18,496,000 after buying an additional 681 shares in the last quarter. Strategic Investment Advisors MI lifted its stake in Invesco QQQ by 33.6% in the fourth quarter. Strategic Investment Advisors MI now owns 605 shares of the exchange traded fund’s stock worth $309,000 after acquiring an additional 152 shares during the period. Drive Wealth Management LLC grew its holdings in Invesco QQQ by 3.0% during the 4th quarter. Drive Wealth Management LLC now owns 1,603 shares of the exchange traded fund’s stock worth $819,000 after acquiring an additional 47 shares in the last quarter. Legacy Financial Group LLC purchased a new position in Invesco QQQ during the 4th quarter valued at about $271,000. Finally, Peak Financial Management Inc. raised its holdings in shares of Invesco QQQ by 1.9% in the 4th quarter. Peak Financial Management Inc. now owns 1,574 shares of the exchange traded fund’s stock valued at $805,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.6 %

Shares of QQQ opened at $529.63 on Monday. The company has a 50 day moving average price of $517.86 and a 200-day moving average price of $493.28. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $539.15.

Invesco QQQ Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

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.