Verdence Capital Advisors LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,388 shares of the exchange traded fund's stock after buying an additional 686 shares during the quarter. Verdence Capital Advisors LLC's holdings in Invesco QQQ were worth $2,995,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ in the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ in the 4th quarter worth about $36,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ in the 1st quarter worth about $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ in the 1st quarter worth about $51,000. Finally, Banque Transatlantique SA acquired a new position in Invesco QQQ in the 4th quarter worth about $57,000. Hedge funds and other institutional investors own 44.58% of the company's stock.
Invesco QQQ Stock Performance
NASDAQ QQQ traded down $0.54 during trading hours on Friday, reaching $561.26. The company's stock had a trading volume of 50,428,921 shares, compared to its average volume of 39,544,174. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $563.36. The company's 50-day moving average is $532.92 and its two-hundred day moving average is $506.84.
Invesco QQQ Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%.
About Invesco QQQ
(
Free Report)
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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