Code Waechter LLC Raises Stock Position in Invesco QQQ (NASDAQ:QQQ)

Code Waechter LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 20.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,725 shares of the exchange traded fund's stock after purchasing an additional 464 shares during the period. Invesco QQQ makes up 1.1% of Code Waechter LLC's holdings, making the stock its 21st biggest holding. Code Waechter LLC's holdings in Invesco QQQ were worth $1,278,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in QQQ. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ during the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ during the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ during the 1st quarter worth approximately $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ during the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA acquired a new position in Invesco QQQ during the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.1%

NASDAQ QQQ traded down $0.80 on Thursday, hitting $555.45. 34,532,031 shares of the stock were exchanged, compared to its average volume of 39,450,524. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $557.63. The company has a 50-day moving average price of $524.27 and a 200-day moving average price of $505.52.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, June 23rd.

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.