First Horizon Advisors Inc. Acquires 3,452 Shares of Invesco QQQ (NASDAQ:QQQ)

First Horizon Advisors Inc. increased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 10.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,738 shares of the exchange traded fund’s stock after acquiring an additional 3,452 shares during the period. First Horizon Advisors Inc.’s holdings in Invesco QQQ were worth $17,697,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of QQQ. Revisor Wealth Management LLC increased its holdings in Invesco QQQ by 81.6% in the first quarter. Revisor Wealth Management LLC now owns 2,679 shares of the exchange traded fund’s stock worth $1,258,000 after purchasing an additional 1,204 shares in the last quarter. Baskin Financial Services Inc. grew its holdings in Invesco QQQ by 4.9% in the first quarter. Baskin Financial Services Inc. now owns 1,151 shares of the exchange traded fund’s stock worth $540,000 after purchasing an additional 54 shares during the period. Mainstream Capital Management LLC increased its stake in Invesco QQQ by 17.1% in the first quarter. Mainstream Capital Management LLC now owns 445 shares of the exchange traded fund’s stock valued at $209,000 after purchasing an additional 65 shares in the last quarter. Physician Wealth Advisors Inc. increased its stake in Invesco QQQ by 1.6% in the first quarter. Physician Wealth Advisors Inc. now owns 4,691 shares of the exchange traded fund’s stock valued at $2,200,000 after purchasing an additional 72 shares in the last quarter. Finally, Pinnacle Financial Partners Inc raised its holdings in shares of Invesco QQQ by 16.7% during the first quarter. Pinnacle Financial Partners Inc now owns 27,306 shares of the exchange traded fund’s stock valued at $12,932,000 after purchasing an additional 3,906 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ stock opened at $550.80 on Thursday. The company’s 50-day moving average is $516.09 and its 200-day moving average is $504.49. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $552.80.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%. 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.