Front Row Advisors LLC Has $2.06 Million Position in Invesco QQQ (NASDAQ:QQQ)

Front Row Advisors LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 7.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,289 shares of the exchange traded fund’s stock after purchasing an additional 282 shares during the quarter. Front Row Advisors LLC’s holdings in Invesco QQQ were worth $2,058,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coastal Bridge Advisors LLC increased its stake in shares of Invesco QQQ by 25.0% in the second quarter. Coastal Bridge Advisors LLC now owns 1,736 shares of the exchange traded fund’s stock worth $832,000 after purchasing an additional 347 shares during the period. NewEdge Advisors LLC grew its holdings in Invesco QQQ by 3.3% in the 2nd quarter. NewEdge Advisors LLC now owns 215,872 shares of the exchange traded fund’s stock valued at $103,426,000 after buying an additional 6,924 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Invesco QQQ by 1.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after buying an additional 33,790 shares during the period. Elevation Capital Advisory LLC acquired a new position in shares of Invesco QQQ during the second quarter worth approximately $10,309,000. Finally, Northeast Financial Consultants Inc boosted its position in shares of Invesco QQQ by 9.3% in the second quarter. Northeast Financial Consultants Inc now owns 177,374 shares of the exchange traded fund’s stock valued at $84,982,000 after acquiring an additional 15,127 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $486.75 on Friday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The company’s fifty day simple moving average is $468.10 and its 200-day simple moving average is $460.07.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.56%.

About Invesco QQQ

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.