Armis Advisers LLC Makes New $12.24 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Armis Advisers LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 23,936 shares of the exchange traded fund's stock, valued at approximately $12,237,000. Invesco QQQ comprises 1.5% of Armis Advisers LLC's holdings, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Chokshi & Queen Wealth Advisors Inc bought a new position in Invesco QQQ during the fourth quarter worth about $29,734,000. Wilkins Miller Wealth Management LLC bought a new position in shares of Invesco QQQ during the 4th quarter valued at about $1,018,000. Liberty Square Wealth Partners LLC bought a new position in shares of Invesco QQQ during the 4th quarter valued at about $6,580,000. Great Valley Advisor Group Inc. lifted its holdings in shares of Invesco QQQ by 0.8% during the 4th quarter. Great Valley Advisor Group Inc. now owns 60,572 shares of the exchange traded fund's stock valued at $30,966,000 after purchasing an additional 483 shares in the last quarter. Finally, Cypress Asset Management Inc. TX bought a new position in shares of Invesco QQQ during the 4th quarter valued at about $1,901,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 2.4%

Shares of NASDAQ:QQQ traded up $11.98 during trading on Tuesday, hitting $521.22. 47,029,049 shares of the company's stock traded hands, compared to its average volume of 37,403,242. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The company has a market cap of $326.62 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. The company has a 50-day moving average price of $475.41 and a 200-day moving average price of $500.77.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued 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.