Pacific Point Advisors LLC Takes $942,000 Position in Invesco QQQ (NASDAQ:QQQ)

Pacific Point Advisors LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,796 shares of the exchange traded fund's stock, valued at approximately $942,000.

A number of other large investors also recently modified their holdings of QQQ. PayPay Securities Corp boosted its stake in Invesco QQQ by 276.9% during the 4th 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 during the last quarter. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $36,000. Roxbury Financial LLC bought a new stake in Invesco QQQ during the fourth quarter worth $37,000. Finally, Midwest Capital Advisors LLC purchased a new stake in Invesco QQQ in the 4th quarter valued at $51,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ traded up $11.22 during mid-day trading on Tuesday, reaching $520.46. 22,323,457 shares of the stock were exchanged, compared to its average volume of 37,311,303. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81. The stock has a market capitalization of $326.14 billion, a PE ratio of 30.62 and a beta of 1.11. The company has a 50 day moving average price of $475.41 and a two-hundred day moving average price of $500.77.

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 given a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

Invesco QQQ Company 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.