GHP Investment Advisors Inc. Boosts Position in Invesco QQQ (NASDAQ:QQQ)

GHP Investment Advisors Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.1% in the first quarter, Holdings Channel reports. The institutional investor owned 3,270 shares of the exchange traded fund’s stock after buying an additional 37 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Invesco QQQ were worth $1,533,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Narwhal Capital Management grew its holdings in Invesco QQQ by 23.1% during the 1st quarter. Narwhal Capital Management now owns 12,222 shares of the exchange traded fund’s stock valued at $5,731,000 after buying an additional 2,293 shares in the last quarter. Chapin Davis Inc. grew its holdings in Invesco QQQ by 51.5% during the 1st quarter. Chapin Davis Inc. now owns 4,398 shares of the exchange traded fund’s stock valued at $2,062,000 after buying an additional 1,495 shares in the last quarter. Post Resch Tallon Group Inc. grew its holdings in shares of Invesco QQQ by 3.9% during the first quarter. Post Resch Tallon Group Inc. now owns 9,987 shares of the exchange traded fund’s stock worth $4,674,000 after purchasing an additional 376 shares in the last quarter. Eagle Strategies LLC grew its holdings in shares of Invesco QQQ by 8.2% during the first quarter. Eagle Strategies LLC now owns 4,268 shares of the exchange traded fund’s stock worth $2,001,000 after purchasing an additional 324 shares in the last quarter. Finally, EQ Wealth Advisors LLC purchased a new position in shares of Invesco QQQ during the first quarter worth about $101,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $541.16 on Thursday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $543.31. The business has a 50-day moving average of $505.63 and a 200-day moving average of $503.71.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.44%. 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.