Waverly Advisors LLC Grows Position in Invesco QQQ (NASDAQ:QQQ)

Waverly Advisors LLC boosted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,904 shares of the exchange traded fund's stock after purchasing an additional 8,792 shares during the period. Invesco QQQ makes up about 0.7% of Waverly Advisors LLC's portfolio, making the stock its 23rd largest holding. Waverly Advisors LLC's holdings in Invesco QQQ were worth $46,473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stephens Consulting LLC grew its position in Invesco QQQ by 0.4% in the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock valued at $2,769,000 after purchasing an additional 19 shares during the period. Hoese & Co LLP lifted its stake in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after buying an additional 20 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in shares of Invesco QQQ by 1.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock valued at $559,000 after buying an additional 20 shares during the last quarter. RAM Investment Partners LLC grew its holdings in shares of Invesco QQQ by 1.7% during the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund's stock valued at $597,000 after buying an additional 20 shares during the last quarter. Finally, HighMark Wealth Management LLC increased its position in shares of Invesco QQQ by 5.2% during the fourth quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund's stock worth $208,000 after acquiring an additional 20 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Down 1.4%

Shares of QQQ traded down $7.23 on Wednesday, reaching $513.04. The company's stock had a trading volume of 71,123,749 shares, compared to its average volume of 37,140,754. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The stock has a market capitalization of $321.50 billion, a PE ratio of 30.62 and a beta of 1.11. The firm has a fifty day moving average of $473.52 and a 200-day moving average of $500.61.

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 issued a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

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.