Gerber Kawasaki Wealth & Investment Management Raises Position in Invesco QQQ Trust (QQQ)

Gerber Kawasaki Wealth & Investment Management boosted its stake in Invesco QQQ Trust (NASDAQ:QQQ) by 28.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,381 shares of the exchange traded fund’s stock after purchasing an additional 3,653 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Invesco QQQ Trust were worth $3,049,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC bought a new position in shares of Invesco QQQ Trust during the second quarter valued at $104,000. Providence Capital Advisors LLC raised its stake in shares of Invesco QQQ Trust by 487.4% during the second quarter. Providence Capital Advisors LLC now owns 605 shares of the exchange traded fund’s stock valued at $104,000 after acquiring an additional 502 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Invesco QQQ Trust during the third quarter valued at $108,000. Opera Trading Capital bought a new position in shares of Invesco QQQ Trust during the second quarter valued at $112,000. Finally, Quad Cities Investment Group LLC bought a new position in shares of Invesco QQQ Trust during the second quarter valued at $128,000. 39.07% of the stock is owned by institutional investors and hedge funds.

QQQ stock opened at $174.46 on Friday. Invesco QQQ Trust has a 52-week low of $150.13 and a 52-week high of $187.53.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Tuesday, September 25th were paid a dividend of $0.3298 per share. This represents a $1.32 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Monday, September 24th.

Separately, Bank of America downgraded shares of Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a research note on Monday.

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Invesco QQQ Trust 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.

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Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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