Kraft Davis & Associates LLC Has $8.02 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Kraft Davis & Associates LLC raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 884.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,914 shares of the exchange traded fund’s stock after purchasing an additional 16,993 shares during the period. Invesco QQQ makes up approximately 2.4% of Kraft Davis & Associates LLC’s investment portfolio, making the stock its 17th biggest position. Kraft Davis & Associates LLC’s holdings in Invesco QQQ were worth $8,022,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. IMA Wealth Inc. boosted its holdings in Invesco QQQ by 1.3% in the third quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock valued at $695,000 after acquiring an additional 25 shares in the last quarter. S.A. Mason LLC boosted its holdings in Invesco QQQ by 1.5% in the fourth quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock valued at $696,000 after acquiring an additional 25 shares in the last quarter. Lauterbach Financial Advisors LLC boosted its holdings in Invesco QQQ by 0.4% in the fourth quarter. Lauterbach Financial Advisors LLC now owns 5,606 shares of the exchange traded fund’s stock valued at $2,296,000 after acquiring an additional 25 shares in the last quarter. Cedrus LLC boosted its holdings in Invesco QQQ by 1.7% in the fourth quarter. Cedrus LLC now owns 1,456 shares of the exchange traded fund’s stock valued at $596,000 after acquiring an additional 25 shares in the last quarter. Finally, Waterfront Wealth Inc. boosted its holdings in Invesco QQQ by 3.1% in the fourth quarter. Waterfront Wealth Inc. now owns 840 shares of the exchange traded fund’s stock valued at $344,000 after acquiring an additional 25 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ stock traded down $8.76 during mid-day trading on Friday, reaching $414.65. 75,140,125 shares of the company’s stock traded hands, compared to its average volume of 46,015,852. Invesco QQQ has a 12 month low of $309.89 and a 12 month high of $449.34. The company’s 50-day moving average price is $437.60 and its 200-day moving average price is $407.88.

Invesco QQQ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be issued a dividend of $0.5735 per share. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, March 18th.

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.