KPP Advisory Services LLC Has $19.90 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

KPP Advisory Services LLC decreased its stake in Invesco QQQ (NASDAQ:QQQ) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,767 shares of the exchange traded fund’s stock after selling 3,732 shares during the period. Invesco QQQ comprises about 4.8% of KPP Advisory Services LLC’s investment portfolio, making the stock its biggest position. KPP Advisory Services LLC’s holdings in Invesco QQQ were worth $19,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in shares of Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after acquiring an additional 32,516,210 shares during the last quarter. Steel Grove Capital Advisors LLC grew its holdings in Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Strategic Financial Concepts LLC grew its position in Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC increased its holdings in shares of Invesco QQQ by 6,215.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after purchasing an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in shares of Invesco QQQ in the first quarter worth $304,591,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded down $12.12 during trading on Friday, hitting $496.57. The company’s stock had a trading volume of 51,461,054 shares, compared to its average volume of 38,252,949. The company has a 50-day moving average of $489.33 and a 200-day moving average of $474.11. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, September 23rd.

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.