PMV Capital Advisers LLC Invests $1.68 Million in Invesco QQQ (NASDAQ:QQQ)

PMV Capital Advisers LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,581 shares of the exchange traded fund's stock, valued at approximately $1,679,000. Invesco QQQ accounts for approximately 4.1% of PMV Capital Advisers LLC's holdings, making the stock its 7th largest holding.

Several other hedge funds have also added to or reduced their stakes in QQQ. Proficio Capital Partners LLC boosted its holdings in Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after acquiring an additional 11,478,188 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Invesco QQQ by 20.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after purchasing an additional 756,990 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after buying an additional 27,115 shares during the period. Commonwealth Equity Services LLC raised its stake in Invesco QQQ by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock worth $1,239,886,000 after buying an additional 52,235 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock worth $1,124,614,000 after buying an additional 568,120 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $1.87 during mid-day trading on Friday, hitting $548.09. The company's stock had a trading volume of 57,440,636 shares, compared to its average volume of 38,990,495. The company's fifty day simple moving average is $507.68 and its 200-day simple moving average is $503.87. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $549.90.

Invesco QQQ Cuts Dividend

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