First Horizon Advisors Inc. Buys 3,452 Shares of Invesco QQQ (NASDAQ:QQQ)

First Horizon Advisors Inc. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 10.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,738 shares of the exchange traded fund’s stock after buying an additional 3,452 shares during the period. First Horizon Advisors Inc.’s holdings in Invesco QQQ were worth $17,697,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of QQQ. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ in the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ in the 4th quarter valued at approximately $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ in the 1st quarter valued at approximately $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth $51,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ during the fourth quarter worth $57,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ opened at $550.80 on Thursday. The stock’s 50-day simple moving average is $516.09 and its 200 day simple moving average is $504.49. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $552.80.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.43%.

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.