Code Waechter LLC Acquires 464 Shares of Invesco QQQ (NASDAQ:QQQ)

Code Waechter LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 20.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,725 shares of the exchange traded fund's stock after acquiring an additional 464 shares during the quarter. Invesco QQQ comprises about 1.1% of Code Waechter LLC's investment portfolio, making the stock its 21st largest holding. Code Waechter LLC's holdings in Invesco QQQ were worth $1,278,000 at the end of the most recent quarter.

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

Invesco QQQ Trading Down 0.2%

Shares of QQQ traded down $1.15 during mid-day trading on Friday, reaching $554.30. The company had a trading volume of 28,351,545 shares, compared to its average volume of 44,886,910. The company's 50 day simple moving average is $525.75 and its 200 day simple moving average is $505.74. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $557.63.

Invesco QQQ Cuts Dividend

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

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.