Miracle Mile Advisors LLC Has $106.42 Million Stock Position in Invesco QQQ Trust (NASDAQ:QQQ)

Miracle Mile Advisors LLC trimmed its holdings in Invesco QQQ Trust (NASDAQ:QQQGet Rating) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 379,673 shares of the exchange traded fund’s stock after selling 4,844 shares during the quarter. Invesco QQQ Trust makes up approximately 5.0% of Miracle Mile Advisors LLC’s holdings, making the stock its biggest position. Miracle Mile Advisors LLC owned 0.07% of Invesco QQQ Trust worth $106,415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sandbox Financial Partners LLC increased its stake in Invesco QQQ Trust by 1.6% in the 1st quarter. Sandbox Financial Partners LLC now owns 1,828 shares of the exchange traded fund’s stock valued at $663,000 after purchasing an additional 29 shares in the last quarter. Prio Wealth Limited Partnership increased its stake in Invesco QQQ Trust by 2.2% in the 4th quarter. Prio Wealth Limited Partnership now owns 1,419 shares of the exchange traded fund’s stock valued at $565,000 after purchasing an additional 30 shares in the last quarter. Horrell Capital Management Inc. increased its stake in Invesco QQQ Trust by 10.0% in the 1st quarter. Horrell Capital Management Inc. now owns 330 shares of the exchange traded fund’s stock valued at $120,000 after purchasing an additional 30 shares in the last quarter. CWA Asset Management Group LLC increased its stake in Invesco QQQ Trust by 1.2% in the 4th quarter. CWA Asset Management Group LLC now owns 2,682 shares of the exchange traded fund’s stock valued at $1,067,000 after purchasing an additional 31 shares in the last quarter. Finally, Hudson Portfolio Management LLC increased its stake in Invesco QQQ Trust by 2.4% in the 4th quarter. Hudson Portfolio Management LLC now owns 1,328 shares of the exchange traded fund’s stock valued at $528,000 after purchasing an additional 31 shares in the last quarter. 41.46% of the stock is currently owned by institutional investors.

Invesco QQQ Trust Stock Down 1.2 %

NASDAQ QQQ opened at $276.81 on Friday. Invesco QQQ Trust has a 1-year low of $269.28 and a 1-year high of $408.71. The business has a 50 day moving average price of $307.43 and a 200 day moving average price of $312.52.

Invesco QQQ Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Tuesday, September 20th will be given a dividend of $0.519 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date is Monday, September 19th.

About Invesco QQQ Trust

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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.

Further Reading

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

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