Cornerstone Financial Group LLC NE Buys Shares of 2,135 Invesco QQQ (NASDAQ:QQQ)

Cornerstone Financial Group LLC NE purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,135 shares of the exchange traded fund's stock, valued at approximately $1,092,000. Invesco QQQ comprises 1.1% of Cornerstone Financial Group LLC NE's portfolio, making the stock its 29th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. PayPay Securities Corp grew its holdings in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after purchasing an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ in the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ during the fourth quarter worth $36,000. Roxbury Financial LLC purchased a new position in Invesco QQQ in the fourth quarter valued at $37,000. Finally, Hoese & Co LLP grew its stake in 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. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $481.41 on Wednesday. The stock's 50-day moving average is $468.61 and its two-hundred day moving average is $499.45. The company has a market cap of $301.68 billion, a price-to-earnings 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 company also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were paid a $0.7157 dividend. 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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