Advance Capital Management Inc. Grows Stake in Invesco QQQ (NASDAQ:QQQ)

Advance Capital Management Inc. increased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 14.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,398 shares of the exchange traded fund's stock after purchasing an additional 1,085 shares during the period. Invesco QQQ accounts for 0.2% of Advance Capital Management Inc.'s portfolio, making the stock its 26th largest holding. Advance Capital Management Inc.'s holdings in Invesco QQQ were worth $3,938,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Stephens Consulting LLC increased its holdings in Invesco QQQ by 0.4% in the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock valued at $2,769,000 after acquiring an additional 19 shares during the last quarter. Farmers & Merchants Investments Inc. increased its holdings in Invesco QQQ by 1.9% in the 4th 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. RAM Investment Partners LLC increased its holdings in 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 acquiring an additional 20 shares during the last quarter. HighMark Wealth Management LLC increased its holdings in Invesco QQQ by 5.2% in the 4th quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund's stock valued at $208,000 after acquiring an additional 20 shares during the last quarter. Finally, Providence First Trust Co increased its holdings in Invesco QQQ by 3.0% in the 4th quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund's stock valued at $346,000 after acquiring an additional 20 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.8%

NASDAQ QQQ traded up $4.10 on Monday, reaching $523.21. The company had a trading volume of 44,563,388 shares, compared to its average volume of 37,701,776. The stock has a market capitalization of $327.87 billion, a PE ratio of 30.62 and a beta of 1.11. The firm's 50 day moving average price is $478.06 and its 200 day moving average price is $500.97. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date 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.