Farther Finance Advisors LLC Purchases 14,090 Shares of Invesco QQQ $QQQ

Key Points

• Farther Finance Advisors LLC increased its stake in Invesco QQQ by 25.1%, acquiring an additional 14,090 shares, bringing their total ownership to 70,337 shares valued at approximately $38.8 million.
• Invesco QQQ's stock performance shows it opened at $599.35, with a 52-week high of $600.05 and a low of $402.39.
• The firm recently cut its dividend, which paid $0.5911 per share, resulting in an annualized yield of 0.4%.

Farther Finance Advisors LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 25.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,337 shares of the exchange traded fund's stock after acquiring an additional 14,090 shares during the period. Invesco QQQ accounts for 0.8% of Farther Finance Advisors LLC's portfolio, making the stock its 17th largest position. Farther Finance Advisors LLC's holdings in Invesco QQQ were worth $38,801,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Compass Financial Services Inc boosted its position in Invesco QQQ by 0.4% during the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock valued at $2,345,000 after buying an additional 19 shares during the period. MTM Investment Management LLC grew its holdings in Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after purchasing an additional 21 shares during the last quarter. Cutler Investment Counsel LLC lifted its position in shares of Invesco QQQ by 1.4% in the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after purchasing an additional 21 shares during the period. Riverbend Wealth Management LLC increased its stake in Invesco QQQ by 0.3% during the 1st quarter. Riverbend Wealth Management LLC now owns 8,172 shares of the exchange traded fund's stock valued at $3,832,000 after purchasing an additional 22 shares in the last quarter. Finally, Selective Wealth Management Inc. increased its stake in shares of Invesco QQQ by 0.6% in the first quarter. Selective Wealth Management Inc. now owns 3,814 shares of the exchange traded fund's stock worth $1,733,000 after acquiring an additional 23 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $599.35 on Friday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $600.05. The company has a 50 day moving average price of $572.19 and a 200 day moving average price of $523.62.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

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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