Davidson Kahn Capital Management LLC Acquires Shares of 14,971 Invesco QQQ (NASDAQ:QQQ)

Davidson Kahn Capital Management LLC purchased a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,971 shares of the exchange traded fund's stock, valued at approximately $7,654,000. Invesco QQQ accounts for 7.1% of Davidson Kahn Capital Management LLC's holdings, making the stock its 3rd biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of QQQ. LGT Financial Advisors LLC acquired a new stake in Invesco QQQ in the 4th quarter valued at $97,000. Peterson Wealth Management raised its holdings in shares of Invesco QQQ by 2.9% during the 4th quarter. Peterson Wealth Management now owns 29,427 shares of the exchange traded fund's stock worth $15,044,000 after acquiring an additional 840 shares during the period. Eagle Strategies LLC increased its position in shares of Invesco QQQ by 8.8% during the fourth quarter. Eagle Strategies LLC now owns 3,944 shares of the exchange traded fund's stock valued at $2,016,000 after acquiring an additional 320 shares during the last quarter. Sulzberger Capital Advisors Inc. acquired a new position in shares of Invesco QQQ in the 4th quarter worth approximately $1,880,000. Finally, Wise Wealth Partners acquired a new position in shares of Invesco QQQ in the 4th quarter worth approximately $553,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.0 %

Invesco QQQ stock opened at $475.47 on Thursday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The company's 50 day moving average is $470.81 and its two-hundred day moving average is $499.65. The firm has a market cap of $301.28 billion, a PE ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Profile

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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