Alexander Randolph Advisory Inc. Invests $529,000 in Invesco QQQ (NASDAQ:QQQ)

Alexander Randolph Advisory Inc. purchased a new stake in Invesco QQQ (NASDAQ:QQQ) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,291 shares of the exchange traded fund’s stock, valued at approximately $529,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Red Tortoise LLC increased its position in Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after acquiring an additional 74 shares during the period. Friedenthal Financial acquired a new position in Invesco QQQ during the 4th quarter worth approximately $41,000. Bear Mountain Capital Inc. acquired a new position in Invesco QQQ during the 4th quarter worth approximately $42,000. Core Wealth Advisors Inc. increased its position in Invesco QQQ by 33.3% during the 3rd quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after purchasing an additional 30 shares during the period. Finally, Blume Capital Management Inc. increased its position in Invesco QQQ by 104.0% during the 3rd quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock worth $48,000 after purchasing an additional 3,500 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ traded up $6.55 on Friday, hitting $431.00. 41,874,907 shares of the company’s stock were exchanged, compared to its average volume of 47,550,872. The firm’s 50-day moving average price is $436.88 and its two-hundred day moving average price is $410.40. Invesco QQQ has a fifty-two week low of $315.05 and a fifty-two week high of $449.34.

Invesco QQQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be issued a $0.5735 dividend. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, March 18th.

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.