Uptown Financial Advisors LLC Acquires Shares of 642 Invesco QQQ (NASDAQ:QQQ)

Uptown Financial Advisors LLC acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 642 shares of the exchange traded fund's stock, valued at approximately $301,000.

A number of other hedge funds have also recently made changes to their positions in the business. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ in the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the first quarter valued at approximately $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ during the first quarter valued at approximately $51,000. Finally, Banque Transatlantique SA purchased a new position in Invesco QQQ in the 4th quarter worth approximately $57,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ stock traded up $1.36 during midday trading on Friday, reaching $566.37. The company had a trading volume of 30,579,821 shares, compared to its average volume of 40,473,144. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $567.70. The firm has a 50-day moving average price of $539.14 and a 200-day moving average price of $508.84.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.42%.

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.