FORM Wealth Advisors LLC Buys Shares of 71,019 Invesco QQQ (NASDAQ:QQQ)

FORM Wealth Advisors LLC bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 71,019 shares of the exchange traded fund's stock, valued at approximately $33,302,000. Invesco QQQ comprises 4.5% of FORM Wealth Advisors LLC's holdings, making the stock its 7th largest holding.

A number of other hedge funds have also added to or reduced their stakes in QQQ. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ during the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the 4th quarter valued at $36,000. Midwest Capital Advisors LLC purchased a new stake in Invesco QQQ during the 4th quarter valued at $51,000. Banque Transatlantique SA purchased a new stake in Invesco QQQ during the 4th quarter valued at $57,000. Finally, Perritt Capital Management Inc purchased a new stake in shares of Invesco QQQ in the 4th quarter worth $61,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $531.65 on Tuesday. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The business has a fifty day moving average price of $502.05 and a 200-day moving average price of $503.19.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.44%.

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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