Bernard Wealth Management Corp. Invests $3.95 Million in Invesco QQQ (NASDAQ:QQQ)

Bernard Wealth Management Corp. bought a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,716 shares of the exchange traded fund's stock, valued at approximately $3,945,000. Invesco QQQ accounts for about 1.8% of Bernard Wealth Management Corp.'s investment portfolio, making the stock its 12th biggest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the company. PayPay Securities Corp grew its holdings in Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ in the fourth quarter worth about $36,000. Roxbury Financial LLC bought a new stake in Invesco QQQ in the fourth quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in Invesco QQQ in the fourth quarter valued at about $51,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 2.4%

Shares of QQQ traded up $11.98 during mid-day trading on Tuesday, hitting $521.22. The stock had a trading volume of 47,029,049 shares, compared to its average volume of 37,403,242. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The company's fifty day simple moving average is $475.41 and its two-hundred day simple moving average is $500.77. The company has a market cap of $326.62 billion, a PE ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently declared 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.