Westbourne Investment Advisors Inc. Takes $2.35 Million Position in Invesco QQQ $QQQ

Westbourne Investment Advisors Inc. purchased a new stake in Invesco QQQ (NASDAQ:QQQ) during the second quarter, according to its most recent filing with the SEC. The firm purchased 4,267 shares of the exchange traded fund’s stock, valued at approximately $2,354,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its stake in Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after acquiring an additional 4,989 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after purchasing an additional 176 shares during the period. Wealth Group Ltd. lifted its holdings in shares of Invesco QQQ by 305.2% during the 1st quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock valued at $3,010,000 after purchasing an additional 4,835 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Invesco QQQ by 7.7% in the 1st quarter. Bank of New York Mellon Corp now owns 99,906 shares of the exchange traded fund’s stock valued at $46,848,000 after purchasing an additional 7,147 shares during the period. Finally, Marks Group Wealth Management Inc grew its position in shares of Invesco QQQ by 2.5% in the 1st quarter. Marks Group Wealth Management Inc now owns 1,617 shares of the exchange traded fund’s stock valued at $758,000 after purchasing an additional 40 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $623.23 on Tuesday. The business has a 50 day simple moving average of $602.40 and a 200 day simple moving average of $561.85. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $637.01.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, September 22nd were given a dividend of $0.694 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, September 22nd.

Invesco QQQ Company 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.