Valley National Advisers Inc. Grows Stake in Invesco QQQ (NASDAQ:QQQ)

Valley National Advisers Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 224.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,176 shares of the exchange traded fund's stock after acquiring an additional 3,579 shares during the quarter. Valley National Advisers Inc.'s holdings in Invesco QQQ were worth $2,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Diversified Enterprises LLC boosted its holdings in Invesco QQQ by 0.4% in the 4th quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund's stock worth $2,679,000 after buying an additional 20 shares during the last quarter. Prevail Innovative Wealth Advisors LLC boosted its holdings in Invesco QQQ by 4.3% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock worth $247,000 after buying an additional 20 shares during the last quarter. Legacy Investment Solutions LLC boosted its holdings in Invesco QQQ by 8.2% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after buying an additional 20 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its holdings in Invesco QQQ by 0.3% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after buying an additional 20 shares during the last quarter. Finally, Willis Johnson & Associates Inc. boosted its holdings in Invesco QQQ by 2.6% in the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after buying an additional 21 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.3%

QQQ stock opened at $548.09 on Monday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $552.23. The business's 50-day moving average is $509.76 and its 200 day moving average is $503.72.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, June 23rd.

Invesco QQQ 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.

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