Ameriflex Group Inc. Makes New $2.73 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Ameriflex Group Inc. purchased a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,235 shares of the exchange traded fund's stock, valued at approximately $2,734,000. Invesco QQQ comprises 1.2% of Ameriflex Group Inc.'s portfolio, making the stock its 12th biggest holding.

A number of other hedge funds have also modified their holdings of the stock. Stephens Consulting LLC grew its position in Invesco QQQ by 0.4% during the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock worth $2,769,000 after buying an additional 19 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in 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 purchasing an additional 20 shares in the last quarter. RAM Investment Partners LLC boosted its holdings in 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 valued at $597,000 after purchasing an additional 20 shares in the last quarter. HighMark Wealth Management LLC boosted its holdings in Invesco QQQ by 5.2% during the fourth quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund's stock valued at $208,000 after purchasing an additional 20 shares in the last quarter. Finally, Providence First Trust Co boosted its holdings in Invesco QQQ by 3.0% during the fourth quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund's stock valued at $346,000 after purchasing an additional 20 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded down $2.31 during trading on Wednesday, reaching $518.91. The stock had a trading volume of 44,861,602 shares, compared to its average volume of 44,756,016. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The business's 50-day moving average price is $476.24 and its 200 day moving average price is $500.91. The stock has a market capitalization of $325.17 billion, a PE ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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