Bernard Wealth Management Corp. Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Bernard Wealth Management Corp. purchased a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,716 shares of the exchange traded fund's stock, valued at approximately $3,945,000. Invesco QQQ makes up about 1.8% of Bernard Wealth Management Corp.'s holdings, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. PayPay Securities Corp raised its stake in Invesco QQQ by 276.9% in the fourth 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 in the last quarter. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $36,000. Roxbury Financial LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $37,000. Finally, Midwest Capital Advisors LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $51,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ traded down $2.31 on Wednesday, reaching $518.91. The company had a trading volume of 44,861,602 shares, compared to its average volume of 37,433,216. The business has a 50 day simple moving average of $476.24 and a 200 day simple moving average of $500.91. The company has a market cap of $325.17 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81.

Invesco QQQ Cuts Dividend

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