Balanced Rock Investment Advisors LLC Purchases New Stake in Invesco QQQ (NASDAQ:QQQ)

Balanced Rock Investment Advisors LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 532 shares of the exchange traded fund's stock, valued at approximately $249,000.

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Several other hedge funds have also added to or reduced their stakes in QQQ. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management bought a new position in Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC bought a new position in Invesco QQQ during the first quarter worth about $51,000. Finally, Banque Transatlantique SA bought a new position in Invesco QQQ during the fourth quarter worth about $57,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.9%

NASDAQ:QQQ opened at $574.55 on Friday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $574.77. The business's 50-day simple moving average is $549.00 and its 200-day simple moving average is $512.37.

Invesco QQQ Cuts Dividend

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were issued a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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.

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