Avalon Trust Co Boosts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Avalon Trust Co increased its holdings in Invesco QQQ by 354.9%, acquiring a total of 787 shares valued at $369,000.
• Invesco QQQ stock has experienced a decline of 2.0%, with a recent trading range between a 52-week low of $402.39 and a high of $574.63.
• The firm recently declared a quarterly dividend of $0.5911 per share, representing an annualized dividend yield of 0.4%.

Avalon Trust Co increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 354.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 787 shares of the exchange traded fund's stock after buying an additional 614 shares during the period. Avalon Trust Co's holdings in Invesco QQQ were worth $369,000 at the end of the most recent quarter.

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

Invesco QQQ Stock Up 1.8%

Shares of QQQ stock traded up $10.22 during trading hours on Monday, hitting $564.10. The company's stock had a trading volume of 47,445,916 shares, compared to its average volume of 43,611,480. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $574.63. The business has a fifty day moving average of $544.01 and a 200-day moving average of $510.67.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%.

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.