Cassaday & Co Wealth Management LLC Purchases 26,315 Shares of Invesco QQQ (NASDAQ:QQQ)

Cassaday & Co Wealth Management LLC raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 74.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,890 shares of the exchange traded fund's stock after purchasing an additional 26,315 shares during the period. Invesco QQQ accounts for approximately 0.8% of Cassaday & Co Wealth Management LLC's investment portfolio, making the stock its 16th biggest holding. Cassaday & Co Wealth Management LLC's holdings in Invesco QQQ were worth $29,022,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QQQ. Bridge Generations Wealth Management LLC acquired a new stake in Invesco QQQ during the 4th quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA acquired a new position in Invesco QQQ in the fourth quarter valued at approximately $57,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ traded down $0.54 during trading hours on Friday, hitting $561.26. 50,428,921 shares of the company's stock were exchanged, compared to its average volume of 39,504,546. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $564.73. The firm has a 50 day moving average of $534.38 and a 200 day moving average of $507.18.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%.

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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