Capital Investment Advisors LLC Grows Position in Invesco QQQ (NASDAQ:QQQ)

Capital Investment Advisors LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 22.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,250 shares of the exchange traded fund's stock after buying an additional 3,473 shares during the quarter. Capital Investment Advisors LLC's holdings in Invesco QQQ were worth $9,027,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Tilia Fiduciary Partners Inc. raised its stake in Invesco QQQ by 27.8% during the first quarter. Tilia Fiduciary Partners Inc. now owns 1,361 shares of the exchange traded fund's stock valued at $638,000 after purchasing an additional 296 shares in the last quarter. Bennett Selby Investments LP raised its stake in Invesco QQQ by 83.3% during the first quarter. Bennett Selby Investments LP now owns 2,042 shares of the exchange traded fund's stock valued at $958,000 after purchasing an additional 928 shares in the last quarter. Park Avenue Securities LLC raised its stake in Invesco QQQ by 37.5% during the first quarter. Park Avenue Securities LLC now owns 39,919 shares of the exchange traded fund's stock valued at $18,719,000 after purchasing an additional 10,885 shares in the last quarter. OLD National Bancorp IN raised its stake in Invesco QQQ by 7.1% during the first quarter. OLD National Bancorp IN now owns 4,036 shares of the exchange traded fund's stock valued at $1,893,000 after purchasing an additional 266 shares in the last quarter. Finally, Global Wealth Management LLC raised its stake in Invesco QQQ by 2.2% during the first quarter. Global Wealth Management LLC now owns 12,271 shares of the exchange traded fund's stock valued at $5,754,000 after purchasing an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.0%

Invesco QQQ stock opened at $529.92 on Monday. The company has a market cap of $332.07 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. The firm's fifty day moving average is $483.20 and its 200 day moving average is $501.85. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81.

Invesco QQQ Cuts Dividend

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

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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