Independent Advisor Alliance Buys 150,713 Shares of Invesco QQQ (NASDAQ:QQQ)

Independent Advisor Alliance increased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2,338.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157,159 shares of the exchange traded fund's stock after purchasing an additional 150,713 shares during the quarter. Invesco QQQ accounts for 1.1% of Independent Advisor Alliance's investment portfolio, making the stock its 13th biggest position. Independent Advisor Alliance's holdings in Invesco QQQ were worth $80,344,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in QQQ. PayPay Securities Corp increased its position in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after acquiring an additional 36 shares during the period. Roxbury Financial LLC purchased a new position in shares of Invesco QQQ in the fourth quarter valued at about $37,000. Hoese & Co LLP increased its position in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after acquiring an additional 20 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of Invesco QQQ in the fourth quarter valued at about $51,000. Finally, Legacy Bridge LLC increased its position in shares of Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund's stock valued at $59,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.7 %

QQQ stock opened at $491.79 on Monday. The firm's 50-day moving average price is $518.84 and its two-hundred day moving average price is $504.14. Invesco QQQ has a 12-month low of $413.07 and a 12-month high of $540.81. The stock has a market capitalization of $309.95 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11.

Invesco QQQ Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 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.

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