Valeo Financial Advisors LLC Acquires 17,995 Shares of Invesco QQQ (NASDAQ:QQQ)

Valeo Financial Advisors LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 54.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 makes up about 0.6% of Valeo Financial Advisors LLC's investment portfolio, making the stock its 27th biggest position. Valeo Financial Advisors LLC's holdings in Invesco QQQ were worth $24,043,000 as of its most recent filing with the Securities and Exchange Commission.

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

Invesco QQQ Trading Down 0.2%

Shares of QQQ traded down $0.86 on Friday, reaching $554.59. 15,664,649 shares of the company's stock were exchanged, compared to its average volume of 39,363,374. The business has a 50 day moving average price of $525.75 and a two-hundred day moving average price of $505.74. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $557.63.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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.

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.