Mercer Global Advisors Inc. ADV Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Mercer Global Advisors Inc. ADV bought a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 175,659 shares of the exchange traded fund's stock, valued at approximately $89,802,000.

Other hedge funds have also recently made changes to their positions in the company. Keel Point LLC raised its position in shares of Invesco QQQ by 31.4% in the fourth quarter. Keel Point LLC now owns 13,154 shares of the exchange traded fund's stock valued at $6,725,000 after purchasing an additional 3,142 shares during the period. Davidson Kahn Capital Management LLC bought a new position in Invesco QQQ in the 4th quarter worth approximately $7,654,000. LGT Financial Advisors LLC purchased a new position in Invesco QQQ in the 4th quarter valued at approximately $97,000. Peterson Wealth Management grew its stake in Invesco QQQ by 2.9% in the 4th quarter. Peterson Wealth Management now owns 29,427 shares of the exchange traded fund's stock valued at $15,044,000 after buying an additional 840 shares in the last quarter. Finally, Eagle Strategies LLC raised its holdings in Invesco QQQ by 8.8% during the 4th quarter. Eagle Strategies LLC now owns 3,944 shares of the exchange traded fund's stock valued at $2,016,000 after acquiring an additional 320 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock traded up $7.15 during trading hours on Friday, reaching $488.83. The company had a trading volume of 39,139,209 shares, compared to its average volume of 36,439,662. The firm has a market cap of $306.33 billion, a PE ratio of 28.58 and a beta of 1.11. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The business has a fifty day simple moving average of $469.56 and a 200 day simple moving average of $499.52.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were paid a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

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.