AdvisorNet Financial Inc Grows Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

AdvisorNet Financial Inc raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 7.1% during the first quarter, HoldingsChannel reports. The fund owned 22,429 shares of the exchange traded fund’s stock after purchasing an additional 1,479 shares during the quarter. Invesco QQQ comprises about 0.8% of AdvisorNet Financial Inc’s investment portfolio, making the stock its 29th biggest holding. AdvisorNet Financial Inc’s holdings in Invesco QQQ were worth $10,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in QQQ. PayPay Securities Corp increased its holdings in Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 36 shares during the period. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ in the fourth quarter worth $36,000. Roxbury Financial LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth $37,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Invesco QQQ in the fourth quarter worth $51,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.2%

Invesco QQQ stock opened at $519.93 on Friday. The stock has a market cap of $325.81 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. The business has a 50-day simple moving average of $477.59 and a 200 day simple moving average of $501.08. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were given a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

About Invesco QQQ

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.