Opes Wealth Management LLC Purchases 538 Shares of Invesco QQQ (NASDAQ:QQQ)

Opes Wealth Management LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 54.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,522 shares of the exchange traded fund's stock after purchasing an additional 538 shares during the period. Opes Wealth Management LLC's holdings in Invesco QQQ were worth $714,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of QQQ. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ in the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ in the fourth quarter worth about $36,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ in the first quarter worth about $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ in the first quarter worth about $51,000. Finally, Banque Transatlantique SA purchased a new stake in Invesco QQQ in the fourth quarter worth about $57,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ traded up $1.36 on Friday, hitting $566.37. The company had a trading volume of 30,579,821 shares, compared to its average volume of 40,473,144. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $567.70. The stock has a fifty day simple moving average of $539.14 and a 200-day simple moving average of $508.80.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.42%.

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.