Avondale Wealth Management Acquires 1,479 Shares of Invesco QQQ (NASDAQ:QQQ)

Avondale Wealth Management lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,780 shares of the exchange traded fund's stock after purchasing an additional 1,479 shares during the quarter. Invesco QQQ accounts for about 9.4% of Avondale Wealth Management's investment portfolio, making the stock its 3rd largest holding. Avondale Wealth Management's holdings in Invesco QQQ were worth $14,902,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of QQQ. Wealth Group Ltd. increased its stake in Invesco QQQ by 6.9% in the 4th quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund's stock valued at $810,000 after buying an additional 102 shares during the period. Tallon Kerry Patrick acquired a new position in Invesco QQQ in the 4th quarter valued at approximately $4,904,000. Capital & Planning LLC increased its stake in Invesco QQQ by 5.0% in the 4th quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund's stock valued at $2,477,000 after buying an additional 229 shares during the period. Naviter Wealth LLC increased its stake in Invesco QQQ by 8.8% in the 4th quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock valued at $675,000 after buying an additional 107 shares during the period. Finally, Eagle Capital Management LLC increased its stake in Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after buying an additional 185 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Invesco QQQ stock traded down $3.24 during trading hours on Friday, hitting $516.69. The company had a trading volume of 67,585,697 shares, compared to its average volume of 37,676,372. The firm has a market capitalization of $323.78 billion, a P/E ratio of 30.62 and a beta of 1.11. The firm's fifty day moving average is $478.06 and its 200-day moving average is $501.02. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were paid a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

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.