PMV Capital Advisers LLC acquired a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,581 shares of the exchange traded fund's stock, valued at approximately $1,679,000. Invesco QQQ makes up approximately 4.1% of PMV Capital Advisers LLC's investment portfolio, making the stock its 7th largest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Bridge Generations Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ during the fourth quarter valued at $36,000. Banque Transatlantique SA purchased a new position in Invesco QQQ during the fourth quarter valued at $57,000. Perritt Capital Management Inc purchased a new position in Invesco QQQ during the fourth quarter valued at $61,000. Finally, Frazier Financial Advisors LLC grew its stake in Invesco QQQ by 1,288.9% during the fourth quarter. Frazier Financial Advisors LLC now owns 125 shares of the exchange traded fund's stock valued at $64,000 after acquiring an additional 116 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.
Invesco QQQ Stock Performance
QQQ traded up $1.87 during trading on Friday, hitting $548.09. 57,440,636 shares of the company traded hands, compared to its average volume of 39,006,887. The stock's 50-day simple moving average is $509.76 and its two-hundred day simple moving average is $503.72. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $549.99.
Invesco QQQ Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid 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 yield of 0.43%.
Invesco QQQ Company Profile
(
Free Report)
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.
Further Reading
Before you consider Invesco QQQ, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Invesco QQQ wasn't on the list.
While Invesco QQQ currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
