Modera Wealth Management LLC Has $6.80 Million Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Modera Wealth Management LLC increased its investment in Invesco QQQ by 9.4%, now holding a total of 14,501 shares valued at approximately $6.8 million.
• Recent activity in Invesco QQQ saw other investors, such as Gemsstock Ltd., significantly grow their stakes, indicating strong institutional interest with 44.58% of the stock owned by institutional investors.
• The company declared a quarterly dividend of $0.5911 per share, with an annualized yield of 0.42%, payable on July 31st to shareholders on record as of June 23rd.

Modera Wealth Management LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,501 shares of the exchange traded fund's stock after buying an additional 1,248 shares during the quarter. Modera Wealth Management LLC's holdings in Invesco QQQ were worth $6,800,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC increased its holdings in Invesco QQQ by 8.2% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after buying an additional 20 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its holdings in Invesco QQQ by 0.3% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after buying an additional 20 shares during the last quarter. Willis Johnson & Associates Inc. increased its holdings in Invesco QQQ by 2.6% during the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after buying an additional 21 shares during the last quarter. MTM Investment Management LLC increased its holdings in Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after buying an additional 21 shares during the last quarter. Finally, Cutler Investment Counsel LLC increased its holdings in Invesco QQQ by 1.4% during the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ traded down $11.13 during trading on Friday, reaching $553.88. 69,290,965 shares of the stock were exchanged, compared to its average volume of 44,970,789. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $574.63. The stock's 50 day moving average price is $543.12 and its two-hundred day moving average price is $510.39.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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.