TrueWealth Advisors LLC Has $9.63 Million Stake in Invesco QQQ (NASDAQ:QQQ)

TrueWealth Advisors LLC raised its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,544 shares of the exchange traded fund's stock after acquiring an additional 645 shares during the period. Invesco QQQ comprises 3.2% of TrueWealth Advisors LLC's holdings, making the stock its 6th biggest holding. TrueWealth Advisors LLC's holdings in Invesco QQQ were worth $9,633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Proficio Capital Partners LLC grew its position in shares of Invesco QQQ by 51,292.3% in the 4th 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 buying an additional 11,478,188 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after acquiring an additional 756,990 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock valued at $2,103,184,000 after acquiring an additional 4,105,389 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after purchasing an additional 27,115 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in Invesco QQQ by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after purchasing an additional 52,235 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.8%

QQQ stock traded down $3.98 during midday trading on Thursday, hitting $524.79. The stock had a trading volume of 60,873,940 shares, compared to its average volume of 37,913,823. The firm has a market cap of $337.36 billion, a P/E ratio of 32.66 and a beta of 1.18. The business has a fifty day moving average price of $480.94 and a two-hundred day moving average price of $501.53. 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. Shareholders 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 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.