Physician Wealth Advisors Inc. Raises Position in Invesco QQQ (NASDAQ:QQQ)

Physician Wealth Advisors Inc. increased its stake in Invesco QQQ (NASDAQ:QQQ) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,691 shares of the exchange traded fund’s stock after purchasing an additional 72 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in Invesco QQQ were worth $2,200,000 at the end of the most recent quarter.

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

Invesco QQQ Stock Up 0.1%

Shares of QQQ traded up $0.78 during midday trading on Wednesday, hitting $547.77. 4,514,046 shares of the company traded hands, compared to its average volume of 39,026,440. The firm has a 50 day moving average of $514.18 and a 200-day moving average of $504.17. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $552.80.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, June 23rd.

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.