Laurel Wealth Advisors LLC Boosts Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Laurel Wealth Advisors LLC increased its position in Invesco QQQ (NASDAQ:QQQ) by 26.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 574 shares of the exchange traded fund’s stock after acquiring an additional 119 shares during the period. Laurel Wealth Advisors LLC’s holdings in Invesco QQQ were worth $269,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wilkins Miller Wealth Management LLC purchased a new stake in Invesco QQQ during the 4th quarter valued at $1,018,000. Synergy Investment Management LLC bought a new position in Invesco QQQ in the fourth quarter valued at about $723,000. Grant Private Wealth Management Inc purchased a new position in Invesco QQQ in the fourth quarter worth about $815,000. Tandem Investment Partners LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at about $4,623,000. Finally, Gemsstock Ltd. increased its position 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 during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.7%

QQQ opened at $534.21 on Wednesday. The company’s 50 day moving average is $485.97 and its 200 day moving average is $502.25. The company has a market cap of $334.76 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. Invesco QQQ has a 12-month low of $402.39 and a 12-month 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 paid a dividend of $0.7157 per share. The ex-dividend date 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.