Invesco QQQ (NASDAQ:QQQ) Shares Bought by USA Financial Formulas

USA Financial Formulas grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 454.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,909 shares of the exchange traded fund's stock after buying an additional 8,943 shares during the quarter. Invesco QQQ accounts for approximately 0.8% of USA Financial Formulas' portfolio, making the stock its 8th largest holding. USA Financial Formulas' holdings in Invesco QQQ were worth $5,115,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. HighMark Wealth Management LLC lifted its holdings in Invesco QQQ by 5.2% in the 4th quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund's stock worth $208,000 after buying an additional 20 shares in the last quarter. Providence First Trust Co lifted its holdings in Invesco QQQ by 3.0% in the 4th quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund's stock worth $346,000 after buying an additional 20 shares in the last quarter. Diversified Enterprises LLC lifted its holdings in Invesco QQQ by 0.4% in the 4th quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund's stock worth $2,679,000 after buying an additional 20 shares in the last quarter. Prevail Innovative Wealth Advisors LLC increased its position in shares of Invesco QQQ by 4.3% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock worth $247,000 after purchasing an additional 20 shares during the last quarter. Finally, Legacy Investment Solutions LLC increased its position in shares of Invesco QQQ by 8.2% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after purchasing an additional 20 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Up 0.2%

Shares of QQQ traded up $1.25 during midday trading on Thursday, hitting $533.66. The company had a trading volume of 33,939,410 shares, compared to its average volume of 38,248,930. The company's 50 day moving average price is $490.36 and its 200 day moving average price is $502.64. The stock has a market cap of $334.42 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.