Precedent Wealth Partners LLC Increases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Precedent Wealth Partners LLC increased its holdings in Invesco QQQ (NASDAQ:QQQ) by 41.1% during the first quarter, HoldingsChannel.com reports. The fund owned 1,493 shares of the exchange traded fund’s stock after buying an additional 435 shares during the period. Precedent Wealth Partners LLC’s holdings in Invesco QQQ were worth $700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Carlton Hofferkamp & Jenks Wealth Management LLC increased its holdings in shares of Invesco QQQ by 7.1% in the 1st quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 9,172 shares of the exchange traded fund’s stock valued at $4,074,000 after acquiring an additional 605 shares during the period. Adero Partners LLC increased its stake in Invesco QQQ by 1.3% in the 1st quarter. Adero Partners LLC now owns 4,923 shares of the exchange traded fund’s stock valued at $2,309,000 after buying an additional 63 shares during the period. Sowell Financial Services LLC increased its stake in Invesco QQQ by 1.9% in the 1st quarter. Sowell Financial Services LLC now owns 117,726 shares of the exchange traded fund’s stock valued at $55,204,000 after buying an additional 2,191 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Invesco QQQ by 5.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 838,553 shares of the exchange traded fund’s stock worth $393,215,000 after purchasing an additional 43,343 shares in the last quarter. Finally, M.E. Allison & CO. Inc. boosted its position in shares of Invesco QQQ by 30.4% during the 1st quarter. M.E. Allison & CO. Inc. now owns 1,640 shares of the exchange traded fund’s stock worth $769,000 after purchasing an additional 382 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $526.96 on Monday. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The company’s fifty day moving average is $492.58 and its two-hundred day moving average is $502.73. The firm has a market capitalization of $330.22 billion, a P/E ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were given 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.