Balance Wealth LLC Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Balance Wealth LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 855 shares of the exchange traded fund's stock, valued at approximately $401,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Proficio Capital Partners LLC lifted its stake in shares of Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after purchasing an additional 11,478,188 shares during the last quarter. NWI Management LP raised its holdings in Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after buying an additional 3,648,000 shares during the period. GAMMA Investing LLC lifted its position in Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after buying an additional 1,868,580 shares during the last quarter. Senator Investment Group LP acquired a new position in Invesco QQQ in the fourth quarter valued at about $679,936,000. Finally, Asset Planning Services Inc. LA ADV boosted its stake in Invesco QQQ by 100,517.9% during the first quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock worth $437,375,000 after buying an additional 931,801 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $539.78 on Wednesday. The company's 50 day simple moving average is $503.69 and its 200-day simple moving average is $503.45. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.44%.

Invesco QQQ 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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