Invesco QQQ (NASDAQ:QQQ) is Pacific Capital Wealth Advisors Inc.’s 4th Largest Position

Pacific Capital Wealth Advisors Inc. increased its stake in Invesco QQQ (NASDAQ:QQQ) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,802 shares of the exchange traded fund’s stock after purchasing an additional 2,612 shares during the quarter. Invesco QQQ comprises about 6.0% of Pacific Capital Wealth Advisors Inc.’s holdings, making the stock its 4th largest position. Pacific Capital Wealth Advisors Inc.’s holdings in Invesco QQQ were worth $34,607,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ during the fourth quarter worth about $36,000. Midwest Capital Advisors LLC purchased a new position in Invesco QQQ during the fourth quarter worth about $51,000. Banque Transatlantique SA bought a new stake in Invesco QQQ during the fourth quarter worth about $57,000. Finally, Perritt Capital Management Inc bought a new stake in Invesco QQQ during the fourth quarter worth about $61,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 1.4%

Shares of QQQ stock opened at $534.29 on Tuesday. The business has a 50-day moving average price of $494.94 and a two-hundred day moving average price of $502.90. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The firm has a market cap of $334.81 billion, a P/E ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business 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.