Wealthfront Advisers LLC Purchases 13,929 Shares of Invesco QQQ (NASDAQ:QQQ)

Wealthfront Advisers LLC increased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 186,745 shares of the exchange traded fund's stock after purchasing an additional 13,929 shares during the period. Wealthfront Advisers LLC's holdings in Invesco QQQ were worth $87,568,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the 4th quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ in the 4th quarter valued at $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the 1st quarter worth $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ in the first quarter valued at about $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of 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 0.8%

NASDAQ:QQQ traded up $4.51 during mid-day trading on Thursday, hitting $561.80. The stock had a trading volume of 40,157,109 shares, compared to its average volume of 39,566,933. The company has a 50 day simple moving average of $531.45 and a 200-day simple moving average of $506.52. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $562.37.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.42%. 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.