1248 Management LLC acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,645 shares of the exchange traded fund's stock, valued at approximately $4,931,000. Invesco QQQ makes up approximately 2.1% of 1248 Management LLC's portfolio, making the stock its 13th largest holding.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Stephens Consulting LLC boosted its holdings in Invesco QQQ by 0.4% in the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock worth $2,769,000 after acquiring an additional 19 shares in the last quarter. Cardinal Point Capital Management ULC raised its position in shares of Invesco QQQ by 0.5% in the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund's stock worth $1,995,000 after purchasing an additional 20 shares during the last quarter. Hoese & Co LLP boosted its stake in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after purchasing an additional 20 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in Invesco QQQ by 1.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock worth $559,000 after purchasing an additional 20 shares in the last quarter. Finally, RAM Investment Partners LLC grew its position in Invesco QQQ by 1.7% during the 4th quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund's stock valued at $597,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.
Invesco QQQ Stock Up 1.5 %
Invesco QQQ stock traded up $7.15 during trading hours on Friday, hitting $488.83. The stock had a trading volume of 39,139,209 shares, compared to its average volume of 36,391,209. The stock's 50-day moving average price is $469.56 and its 200-day moving average price is $499.58. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The stock has a market capitalization of $306.33 billion, a P/E ratio of 28.58 and a beta of 1.11.
Invesco QQQ Cuts Dividend
The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date was Monday, March 24th.
Invesco QQQ Company Profile
(
Free Report)
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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