Valeo Financial Advisors LLC Raises Stock Position in Invesco QQQ (NASDAQ:QQQ)

Valeo Financial Advisors LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 54.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,273 shares of the exchange traded fund's stock after purchasing an additional 17,995 shares during the period. Invesco QQQ accounts for approximately 0.6% of Valeo Financial Advisors LLC's holdings, making the stock its 27th largest position. Valeo Financial Advisors LLC's holdings in Invesco QQQ were worth $24,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bridge Generations Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ in the 4th quarter worth $36,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ in the 1st quarter worth $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ in the 1st quarter worth $51,000. Finally, Banque Transatlantique SA purchased a new stake in Invesco QQQ in the 4th quarter worth $57,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.1%

QQQ stock traded up $0.31 during trading on Tuesday, reaching $552.34. The company's stock had a trading volume of 36,064,065 shares, compared to its average volume of 39,286,037. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $557.20. The company's fifty day moving average is $521.12 and its 200-day moving average is $504.84.

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

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.