Sterling Investment Counsel LLC Buys New Stake in Invesco QQQ (NASDAQ:QQQ)

Sterling Investment Counsel LLC bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the first quarter, Holdings Channel reports. The fund bought 1,828 shares of the exchange traded fund’s stock, valued at approximately $857,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QQQ. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ in the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ in the fourth quarter valued at $36,000. Midwest Capital Advisors LLC purchased a new position in Invesco QQQ in the fourth quarter valued at $51,000. Banque Transatlantique SA purchased a new position in Invesco QQQ in the fourth quarter valued at $57,000. Finally, Perritt Capital Management Inc purchased a new position in Invesco QQQ in the fourth quarter valued at $61,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.0%

QQQ opened at $528.99 on Thursday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The company has a fifty day moving average of $497.46 and a two-hundred day moving average of $503.26.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

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.