Avalon Capital Management Acquires 133 Shares of Invesco QQQ (NASDAQ:QQQ)

Avalon Capital Management grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 5.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,421 shares of the exchange traded fund’s stock after acquiring an additional 133 shares during the quarter. Avalon Capital Management’s holdings in Invesco QQQ were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Cornerstone Wealth Group LLC raised its stake in shares of Invesco QQQ by 47.2% in the first quarter. Cornerstone Wealth Group LLC now owns 3,463 shares of the exchange traded fund’s stock valued at $1,538,000 after purchasing an additional 1,110 shares in the last quarter. Richardson Capital Management LLC raised its stake in shares of Invesco QQQ by 3,792.5% in the first quarter. Richardson Capital Management LLC now owns 2,063 shares of the exchange traded fund’s stock valued at $916,000 after purchasing an additional 2,010 shares in the last quarter. FIDELIS iM LLC acquired a new position in shares of Invesco QQQ in the first quarter valued at $398,000. Physician Wealth Advisors Inc. raised its stake in shares of Invesco QQQ by 3.4% in the first quarter. Physician Wealth Advisors Inc. now owns 4,560 shares of the exchange traded fund’s stock valued at $1,966,000 after purchasing an additional 151 shares in the last quarter. Finally, Founders Financial Securities LLC raised its stake in shares of Invesco QQQ by 11.3% in the first quarter. Founders Financial Securities LLC now owns 55,730 shares of the exchange traded fund’s stock valued at $24,745,000 after purchasing an additional 5,661 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $479.11 on Monday. The business has a fifty day simple moving average of $454.85 and a 200 day simple moving average of $436.77. Invesco QQQ has a one year low of $342.35 and a one year high of $487.20.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be paid a dividend of $0.7615 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Monday, June 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.