Financial Counselors Inc. Purchases 2,466 Shares of Invesco QQQ (NASDAQ:QQQ)

Financial Counselors Inc. grew its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 24.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,573 shares of the exchange traded fund's stock after purchasing an additional 2,466 shares during the period. Financial Counselors Inc.'s holdings in Invesco QQQ were worth $5,896,000 as of its most recent filing with the Securities and Exchange Commission.

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

Invesco QQQ Price Performance

NASDAQ:QQQ traded up $3.91 during trading hours on Wednesday, hitting $556.25. 42,940,948 shares of the company traded hands, compared to its average volume of 39,424,508. The firm's 50-day simple moving average is $522.66 and its 200-day simple moving average is $505.17. Invesco QQQ has a one year low of $402.39 and a one year high of $557.57.

Invesco QQQ Cuts Dividend

The business also recently declared 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 is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%.

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.