AmeriServ Wealth Advisors Takes $438,000 Position in Invesco QQQ (NASDAQ:QQQ)

AmeriServ Wealth Advisors bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 857 shares of the exchange traded fund's stock, valued at approximately $438,000.

Several other hedge funds and other institutional investors have also modified their holdings of QQQ. PayPay Securities Corp boosted its stake in Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ in the fourth quarter valued at about $36,000. Roxbury Financial LLC acquired a new position in shares of Invesco QQQ in the 4th quarter valued at approximately $37,000. Finally, Hoese & Co LLP grew its position in Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 1.5 %

QQQ stock opened at $488.83 on Friday. The stock has a market capitalization of $306.33 billion, a P/E ratio of 28.58 and a beta of 1.11. The firm has a 50-day moving average price of $469.56 and a 200-day moving average price of $499.52. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

Invesco QQQ 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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