ICG Advisors LLC Makes New $19.27 Million Investment in Invesco QQQ $QQQ

ICG Advisors LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 31,282 shares of the exchange traded fund’s stock, valued at approximately $19,273,000. Invesco QQQ makes up 64.4% of ICG Advisors LLC’s holdings, making the stock its biggest position.

A number of other hedge funds also recently added to or reduced their stakes in QQQ. Brighton Jones LLC lifted its holdings in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after buying an additional 176 shares in the last quarter. Jupiter Wealth Management LLC acquired a new stake in Invesco QQQ during the 2nd quarter worth approximately $290,000. Wealth Group Ltd. lifted its holdings in Invesco QQQ by 283.7% during the 2nd quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund’s stock worth $13,587,000 after buying an additional 18,210 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Invesco QQQ by 1,057.3% during the 2nd quarter. Invesco Ltd. now owns 33,063 shares of the exchange traded fund’s stock worth $18,239,000 after buying an additional 30,206 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

Invesco QQQ Trading Down 0.6%

Invesco QQQ stock opened at $651.42 on Friday. Invesco QQQ has a 52-week low of $455.83 and a 52-week high of $656.92. The company’s 50 day moving average is $604.85 and its two-hundred day moving average is $611.96.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a $0.7328 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, March 23rd.

Invesco QQQ Company 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.

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Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

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