Perennial Advisors LLC Purchases New Shares in Invesco QQQ (NASDAQ:QQQ)

Perennial Advisors LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,125 shares of the exchange traded fund's stock, valued at approximately $2,109,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Stephens Consulting LLC increased its position in Invesco QQQ by 0.4% during the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock worth $2,769,000 after acquiring an additional 19 shares during the period. Farmers & Merchants Investments Inc. increased its position in Invesco QQQ by 1.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock worth $559,000 after acquiring an additional 20 shares during the period. RAM Investment Partners LLC boosted its stake in Invesco QQQ by 1.7% during the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund's stock worth $597,000 after buying an additional 20 shares in the last quarter. HighMark Wealth Management LLC boosted its stake in Invesco QQQ by 5.2% during the fourth 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. Finally, Providence First Trust Co boosted its stake in Invesco QQQ by 3.0% during the fourth 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. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 2.4%

QQQ traded up $11.98 during trading on Tuesday, reaching $521.22. 47,029,049 shares of the company's stock were exchanged, compared to its average volume of 37,403,242. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The business has a 50 day moving average price of $475.41 and a 200 day moving average price of $500.77. The company has a market capitalization of $326.62 billion, a P/E ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

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.