Xcel Wealth Management LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 102.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,181 shares of the exchange traded fund's stock after buying an additional 1,608 shares during the quarter. Xcel Wealth Management LLC's holdings in Invesco QQQ were worth $1,492,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in QQQ. Wilkins Miller Wealth Management LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at $1,018,000. Grant Private Wealth Management Inc bought a new position in Invesco QQQ in the fourth quarter valued at about $815,000. Tandem Investment Partners LLC bought a new position in Invesco QQQ in the fourth quarter valued at about $4,623,000. Gemsstock Ltd. increased its position in Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after purchasing an additional 213,400 shares during the period. Finally, Wescott Financial Advisory Group LLC raised its holdings in Invesco QQQ by 1.8% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after purchasing an additional 2,600 shares during the last quarter. 44.58% of the stock is owned by institutional investors.
Invesco QQQ Stock Performance
Invesco QQQ stock traded up $5.08 during trading hours on Thursday, reaching $555.88. 26,443,524 shares of the company's stock traded hands, compared to its average volume of 39,231,028. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $557.15. The firm's 50 day moving average is $516.09 and its 200-day moving average is $504.49.
Invesco QQQ Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, June 23rd.
Invesco QQQ Profile
(
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.
Recommended Stories
Before you consider Invesco QQQ, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Invesco QQQ wasn't on the list.
While Invesco QQQ currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
