Faithward Advisors LLC Has $4.07 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Faithward Advisors LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,967 shares of the exchange traded fund's stock after acquiring an additional 913 shares during the quarter. Faithward Advisors LLC's holdings in Invesco QQQ were worth $4,073,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of QQQ. SOA Wealth Advisors LLC. lifted its stake in Invesco QQQ by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund's stock worth $8,477,000 after acquiring an additional 46 shares in the last quarter. Zacks Investment Management acquired a new position in shares of Invesco QQQ in the 3rd quarter valued at about $4,191,000. XTX Topco Ltd purchased a new stake in shares of Invesco QQQ in the third quarter worth approximately $1,429,000. Drucker Wealth 3.0 LLC boosted its holdings in shares of Invesco QQQ by 25.7% during the third quarter. Drucker Wealth 3.0 LLC now owns 533 shares of the exchange traded fund's stock worth $260,000 after purchasing an additional 109 shares during the period. Finally, Geller Advisors LLC grew its position in Invesco QQQ by 5.1% during the third quarter. Geller Advisors LLC now owns 26,800 shares of the exchange traded fund's stock valued at $13,098,000 after purchasing an additional 1,300 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Invesco QQQ stock traded up $8.22 during trading hours on Friday, hitting $454.40. The company had a trading volume of 52,407,577 shares, compared to its average volume of 36,858,069. The firm's fifty day moving average is $490.33 and its 200-day moving average is $502.44. The firm has a market capitalization of $283.95 billion, a P/E ratio of 30.05 and a beta of 1.11. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

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.