PKS Advisory Services LLC Purchases Shares of 44,777 Invesco QQQ (NASDAQ:QQQ)

PKS Advisory Services LLC acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 44,777 shares of the exchange traded fund’s stock, valued at approximately $22,892,000. Invesco QQQ comprises about 6.2% of PKS Advisory Services LLC’s investment portfolio, making the stock its 2nd biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in QQQ. SOA Wealth Advisors LLC. boosted its holdings in Invesco QQQ by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock valued at $8,477,000 after acquiring an additional 46 shares during the last quarter. Davis R M Inc. raised its holdings in shares of Invesco QQQ by 3.2% in the 3rd quarter. Davis R M Inc. now owns 3,789 shares of the exchange traded fund’s stock worth $1,849,000 after purchasing an additional 118 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in shares of Invesco QQQ by 95.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,145 shares of the exchange traded fund’s stock valued at $559,000 after purchasing an additional 558 shares in the last quarter. Alliance Wealth Management Group grew its holdings in shares of Invesco QQQ by 30.2% during the 3rd quarter. Alliance Wealth Management Group now owns 2,562 shares of the exchange traded fund’s stock worth $1,250,000 after purchasing an additional 595 shares during the period. Finally, Truvestments Capital LLC lifted its stake in shares of Invesco QQQ by 506.7% during the third quarter. Truvestments Capital LLC now owns 35,646 shares of the exchange traded fund’s stock worth $17,398,000 after purchasing an additional 29,771 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $490.66 on Tuesday. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $540.81. The firm has a 50-day moving average of $511.00 and a two-hundred day moving average of $504.66. The stock has a market cap of $309.24 billion, a P/E ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be given a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

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.