547 Shares in Invesco QQQ (NASDAQ:QQQ) Bought by Fonville Wealth Management LLC

Fonville Wealth Management LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 547 shares of the exchange traded fund's stock, valued at approximately $257,000.

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

Invesco QQQ Trading Down 0.2%

Shares of NASDAQ:QQQ traded down $1.25 during midday trading on Friday, reaching $554.20. 39,558,757 shares of the company's stock traded hands, compared to its average volume of 39,410,558. Invesco QQQ has a one year low of $402.39 and a one year high of $557.63. The stock has a 50 day moving average of $525.75 and a 200 day moving average of $505.74.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, June 23rd.

About Invesco QQQ

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.