Modera Wealth Management LLC Acquires 1,248 Shares of Invesco QQQ (NASDAQ:QQQ)

Modera Wealth Management LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 9.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,501 shares of the exchange traded fund’s stock after acquiring an additional 1,248 shares during the quarter. Modera Wealth Management LLC’s holdings in Invesco QQQ were worth $6,800,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in QQQ. Wilkins Miller Wealth Management LLC acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $1,018,000. Grant Private Wealth Management Inc bought a new position in shares of Invesco QQQ in the fourth quarter valued at $815,000. Gemsstock Ltd. grew its stake in shares of Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock valued at $150,046,000 after buying an additional 213,400 shares in the last quarter. Tandem Investment Partners LLC acquired a new stake in Invesco QQQ during the 4th quarter valued at $4,623,000. Finally, Wescott Financial Advisory Group LLC lifted its holdings in Invesco QQQ by 1.8% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund’s stock valued at $75,071,000 after purchasing an additional 2,600 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 $568.02 on Thursday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $572.11. The stock has a fifty day moving average of $542.10 and a 200-day moving average of $509.98.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, June 23rd.

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.