Private Capital Advisors Inc. Raises Stock Position in Invesco QQQ (NASDAQ:QQQ)

Private Capital Advisors Inc. lifted its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 45.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,182 shares of the exchange traded fund's stock after purchasing an additional 1,315 shares during the period. Private Capital Advisors Inc.'s holdings in Invesco QQQ were worth $1,961,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in QQQ. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ in the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $36,000. Alpine Bank Wealth Management purchased a new position in shares of Invesco QQQ in the first quarter worth about $50,000. Westend Capital Management LLC purchased a new position in shares of Invesco QQQ in the first quarter worth about $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $57,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ traded up $4.51 during trading hours on Thursday, hitting $561.80. The company's stock had a trading volume of 40,157,109 shares, compared to its average volume of 39,499,059. The business has a 50 day simple moving average of $532.92 and a two-hundred day simple moving average of $506.84. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $562.31.

Invesco QQQ Cuts Dividend

The firm also recently announced 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 is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.42%.

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.