Valeo Financial Advisors LLC Grows Stake in Invesco QQQ (NASDAQ:QQQ)

Valeo Financial Advisors LLC raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 54.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,273 shares of the exchange traded fund's stock after acquiring an additional 17,995 shares during the quarter. Invesco QQQ makes up 0.6% of Valeo Financial Advisors LLC's investment portfolio, making the stock its 27th biggest holding. Valeo Financial Advisors LLC's holdings in Invesco QQQ were worth $24,043,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ during the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ during the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ during the 1st quarter worth approximately $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ in the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA acquired a new stake in Invesco QQQ during the 4th quarter valued at $57,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ:QQQ traded up $3.91 during trading hours on Wednesday, reaching $556.25. 42,940,948 shares of the company traded hands, compared to its average volume of 39,424,508. The firm's 50-day moving average is $522.66 and its 200-day moving average is $505.17. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $557.57.

Invesco QQQ Cuts Dividend

The firm 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 dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, June 23rd.

About Invesco QQQ

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.