BIP Wealth LLC Has $1.35 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

BIP Wealth LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 40.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,649 shares of the exchange traded fund's stock after purchasing an additional 766 shares during the quarter. BIP Wealth LLC's holdings in Invesco QQQ were worth $1,354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Stephens Consulting LLC boosted its stake in shares of Invesco QQQ by 0.4% during the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock valued at $2,769,000 after purchasing an additional 19 shares during the period. Cardinal Point Capital Management ULC boosted its position in 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 valued at $1,995,000 after buying an additional 20 shares during the period. Hoese & Co LLP grew its holdings 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 acquiring an additional 20 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of Invesco QQQ by 1.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock valued at $559,000 after acquiring an additional 20 shares during the last quarter. Finally, RAM Investment Partners LLC boosted its holdings in shares of Invesco QQQ by 1.7% during the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund's stock worth $597,000 after purchasing an additional 20 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $488.83 on Friday. The stock's 50-day moving average is $469.56 and its 200 day moving average is $499.58. The company has a market cap of $306.33 billion, a PE ratio of 28.58 and a beta of 1.11. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date of this dividend was 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.

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