Miracle Mile Advisors LLC Acquires 9,657 Shares of Invesco QQQ (NASDAQ:QQQ)

Miracle Mile Advisors LLC increased its position in Invesco QQQ (NASDAQ:QQQ) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 386,635 shares of the exchange traded fund’s stock after acquiring an additional 9,657 shares during the period. Invesco QQQ makes up about 4.3% of Miracle Mile Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Miracle Mile Advisors LLC’s holdings in Invesco QQQ were worth $171,670,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of QQQ. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ in the 1st quarter worth approximately $29,000. Voisard Asset Management Group Inc. acquired a new stake in Invesco QQQ during the 4th quarter valued at $35,000. Red Tortoise LLC grew its holdings in Invesco QQQ by 370.0% during the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after buying an additional 74 shares during the last quarter. Robinson Capital Management LLC acquired a new stake in Invesco QQQ during the 4th quarter valued at $40,000. Finally, Friedenthal Financial acquired a new stake in Invesco QQQ during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.6 %

Shares of NASDAQ:QQQ opened at $481.92 on Tuesday. The business’s fifty day moving average price is $454.85 and its two-hundred day moving average price is $436.77. Invesco QQQ has a one year low of $342.35 and a one year high of $487.20.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be issued a dividend of $0.7615 per share. This represents a $3.05 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

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.