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

Independent Advisor Alliance grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2,338.1% during the fourth quarter, HoldingsChannel reports. 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 approximately 1.1% of Independent Advisor Alliance’s holdings, 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 have also recently modified their holdings of the stock. PayPay Securities Corp boosted its stake in Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Roxbury Financial LLC bought a new stake in Invesco QQQ during the fourth quarter worth about $37,000. Hoese & Co LLP boosted its stake in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after acquiring an additional 20 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth approximately $51,000. Finally, Legacy Bridge LLC lifted its stake 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 worth $59,000 after buying an additional 45 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $491.79 on Monday. The firm’s 50 day moving average price is $518.84 and its 200-day moving average price is $504.14. The company has a market cap of $309.95 billion, a PE ratio of 33.43 and a beta of 1.11. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $540.81.

Invesco QQQ Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

Invesco QQQ 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.