Invesco QQQ (NASDAQ:QQQ) Shares Bought by Avondale Wealth Management

Avondale Wealth Management grew its position in Invesco QQQ (NASDAQ:QQQ) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,780 shares of the exchange traded fund’s stock after purchasing an additional 1,479 shares during the quarter. Invesco QQQ makes up 9.4% of Avondale Wealth Management’s investment portfolio, making the stock its 3rd largest position. Avondale Wealth Management’s holdings in Invesco QQQ were worth $14,902,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of QQQ. Stephens Consulting LLC increased its stake in Invesco QQQ by 0.4% during the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock valued at $2,769,000 after acquiring an additional 19 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in shares of Invesco QQQ by 1.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock valued at $559,000 after acquiring an additional 20 shares during the period. RAM Investment Partners LLC boosted its position in Invesco QQQ by 1.7% in the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund’s stock valued at $597,000 after buying an additional 20 shares in the last quarter. HighMark Wealth Management LLC grew its position in Invesco QQQ by 5.2% during the 4th quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund’s stock worth $208,000 after acquiring an additional 20 shares during the last quarter. Finally, Providence First Trust Co raised its holdings in shares of Invesco QQQ by 3.0% in the fourth quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund’s stock valued at $346,000 after buying an additional 20 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ opened at $516.69 on Friday. The stock has a market capitalization of $323.78 billion, a P/E ratio of 30.62 and a beta of 1.11. The company’s 50 day simple moving average is $478.06 and its 200-day simple moving average is $501.10. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81.

Invesco QQQ Cuts Dividend

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

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.