IFP Advisors Inc lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 30.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,369 shares of the exchange traded fund's stock after purchasing an additional 30,288 shares during the quarter. Invesco QQQ comprises about 1.9% of IFP Advisors Inc's holdings, making the stock its 2nd biggest holding. IFP Advisors Inc's holdings in Invesco QQQ were worth $61,144,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Bridge Generations Wealth Management LLC acquired a new stake in shares of Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ in the first quarter valued at approximately $51,000. Finally, Banque Transatlantique SA acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.
Invesco QQQ Stock Down 0.1%
Shares of NASDAQ:QQQ opened at $561.26 on Friday. The firm's 50 day moving average price is $534.38 and its 200 day moving average price is $507.15. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $564.73.
Invesco QQQ Cuts Dividend
The company also recently announced 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 annualized dividend and a yield of 0.42%.
Invesco QQQ Company Profile
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Free Report)
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.
Further Reading
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