Grant Private Wealth Management Inc Purchases Shares of 1,595 Invesco QQQ (NASDAQ:QQQ)

Grant Private Wealth Management Inc acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,595 shares of the exchange traded fund's stock, valued at approximately $815,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Stephens Consulting LLC grew its holdings in Invesco QQQ by 0.4% during 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 during the period. Cardinal Point Capital Management ULC boosted its position in shares of Invesco QQQ by 0.5% during 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 in the last quarter. Hoese & Co LLP boosted its position in shares of Invesco QQQ by 32.3% during 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. grew its stake in shares of Invesco QQQ by 1.9% during 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 during the period. Finally, RAM Investment Partners LLC increased its holdings in shares of Invesco QQQ by 1.7% in 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 in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ stock traded down $27.99 during trading on Friday, reaching $422.67. 116,767,600 shares of the company were exchanged, compared to its average volume of 35,455,038. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $540.81. The company has a market cap of $267.89 billion, a P/E ratio of 30.05 and a beta of 1.11. The stock's 50 day moving average price is $501.45 and its 200 day moving average price is $504.58.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

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.