Schechter Investment Advisors LLC Buys 1,170 Shares of Invesco QQQ (NASDAQ:QQQ)

Schechter Investment Advisors LLC raised its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 21.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,689 shares of the exchange traded fund's stock after purchasing an additional 1,170 shares during the quarter. Schechter Investment Advisors LLC's holdings in Invesco QQQ were worth $3,137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of QQQ. Wilkins Miller Wealth Management LLC acquired a new stake in shares of Invesco QQQ during the 4th quarter valued at $1,018,000. Grant Private Wealth Management Inc bought a new position in Invesco QQQ in the fourth quarter valued at about $815,000. Gemsstock Ltd. boosted its stake in shares of Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after purchasing an additional 213,400 shares in the last quarter. Tandem Investment Partners LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $4,623,000. Finally, Wescott Financial Advisory Group LLC raised its holdings in Invesco QQQ by 1.8% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock valued at $75,071,000 after buying an additional 2,600 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.2%

NASDAQ:QQQ traded down $1.25 during mid-day trading on Friday, hitting $554.20. 39,558,757 shares of the company's stock were exchanged, compared to its average volume of 39,419,891. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $557.63. The company has a 50 day simple moving average of $527.06 and a 200-day simple moving average of $505.74.

Invesco QQQ Cuts Dividend

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

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.