Perennial Advisors LLC Invests $2.11 Million in Invesco QQQ (NASDAQ:QQQ)

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $294,000. Forum Financial Management LP lifted its stake in Invesco QQQ by 19.4% in the fourth quarter. Forum Financial Management LP now owns 5,335 shares of the exchange traded fund's stock valued at $2,727,000 after acquiring an additional 867 shares during the last quarter. Baer Investment Advisory LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $2,143,000. Griffith & Werner Inc. acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $583,000. Finally, Michels Family Financial LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $2,176,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.3%

NASDAQ QQQ traded up $1.52 during trading on Thursday, reaching $520.43. The company's stock had a trading volume of 35,833,216 shares, compared to its average volume of 37,483,944. The stock has a market capitalization of $326.13 billion, a PE ratio of 30.62 and a beta of 1.11. The business has a 50-day moving average price of $477.01 and a 200-day moving average price of $501.03. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed 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 was Monday, March 24th.

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.