Farther Finance Advisors LLC Acquires 18,986 Shares of Invesco QQQ (NASDAQ:QQQ)

Farther Finance Advisors LLC grew its stake in Invesco QQQ (NASDAQ:QQQ) by 51.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,247 shares of the exchange traded fund’s stock after purchasing an additional 18,986 shares during the quarter. Invesco QQQ comprises approximately 0.7% of Farther Finance Advisors LLC’s holdings, making the stock its 20th largest holding. Farther Finance Advisors LLC’s holdings in Invesco QQQ were worth $26,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in QQQ. Wilkins Miller Wealth Management LLC acquired a new stake in Invesco QQQ during the 4th quarter worth $1,018,000. Synergy Investment Management LLC bought a new stake in shares of Invesco QQQ in the fourth quarter worth about $723,000. Grant Private Wealth Management Inc acquired a new stake in shares of Invesco QQQ during the fourth quarter worth about $815,000. Tandem Investment Partners LLC acquired a new stake in shares of Invesco QQQ during the fourth quarter worth about $4,623,000. Finally, Gemsstock Ltd. lifted its holdings in shares of Invesco QQQ by 266.4% during the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock valued at $150,046,000 after purchasing an additional 213,400 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ opened at $529.92 on Monday. The stock has a 50 day simple moving average of $483.20 and a 200 day simple moving average of $501.85. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The firm has a market capitalization of $332.07 billion, a PE ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.