Pasadena Private Wealth LLC Has $3.32 Million Position in Invesco QQQ (NASDAQ:QQQ)

Pasadena Private Wealth LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 48.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,087 shares of the exchange traded fund’s stock after buying an additional 2,301 shares during the quarter. Invesco QQQ makes up approximately 0.6% of Pasadena Private Wealth LLC’s investment portfolio, making the stock its 28th largest position. Pasadena Private Wealth LLC’s holdings in Invesco QQQ were worth $3,323,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC boosted its holdings in shares of Invesco QQQ by 8.2% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund’s stock worth $138,000 after buying an additional 20 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its position in shares of Invesco QQQ by 0.3% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund’s stock valued at $3,080,000 after buying an additional 20 shares during the period. Willis Johnson & Associates Inc. increased its position in shares of Invesco QQQ by 2.6% during the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund’s stock valued at $416,000 after buying an additional 21 shares during the period. MTM Investment Management LLC increased its position in shares of Invesco QQQ by 1.6% in the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock worth $613,000 after purchasing an additional 21 shares during the last quarter. Finally, Cutler Investment Counsel LLC increased its position in shares of Invesco QQQ by 1.4% in the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock worth $710,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.1%

Shares of QQQ stock opened at $568.02 on Thursday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $572.11. The business has a 50-day moving average price of $542.10 and a two-hundred day moving average price of $509.98.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company Profile

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.