Alta Wealth Advisors LLC Increases Position in Invesco QQQ (NASDAQ:QQQ)

Alta Wealth Advisors LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 31.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,634 shares of the exchange traded fund’s stock after buying an additional 2,075 shares during the period. Invesco QQQ accounts for approximately 1.9% of Alta Wealth Advisors LLC’s portfolio, making the stock its 11th largest position. Alta Wealth Advisors LLC’s holdings in Invesco QQQ were worth $3,834,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deane Retirement Strategies Inc. acquired a new position in Invesco QQQ during the first quarter worth about $29,000. Legacy Bridge LLC grew its position in Invesco QQQ by 800.0% during the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after buying an additional 64 shares during the period. Voisard Asset Management Group Inc. acquired a new position in Invesco QQQ during the fourth quarter worth about $35,000. Red Tortoise LLC grew its position in Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after buying an additional 74 shares during the period. Finally, Robinson Capital Management LLC acquired a new position in Invesco QQQ during the fourth quarter worth about $40,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 1.0 %

QQQ traded up $5.12 on Friday, hitting $496.16. 28,495,936 shares of the company were exchanged, compared to its average volume of 25,387,020. The business’s fifty day moving average is $461.28 and its 200 day moving average is $439.25. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $496.60.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be given a dividend of $0.7615 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.61%. The ex-dividend date is Monday, June 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.