Invesco QQQ (NASDAQ:QQQ) Shares Purchased by Gradient Capital Advisors LLC

Gradient Capital Advisors LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 9.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,096 shares of the exchange traded fund’s stock after acquiring an additional 91 shares during the period. Gradient Capital Advisors LLC’s holdings in Invesco QQQ were worth $514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ in the 4th quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $36,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ in the first quarter valued at $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ in the first quarter valued at $51,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at $57,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $562.18 on Friday. The business’s 50-day simple moving average is $532.92 and its 200-day simple moving average is $506.84. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $563.32.

Invesco QQQ Cuts Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%.

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.