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

Bernard Wealth Management Corp. bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,716 shares of the exchange traded fund's stock, valued at approximately $3,945,000. Invesco QQQ comprises approximately 1.8% of Bernard Wealth Management Corp.'s investment portfolio, making the stock its 12th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HWG Holdings LP raised its holdings in Invesco QQQ by 27.9% during the 4th quarter. HWG Holdings LP now owns 43,183 shares of the exchange traded fund's stock worth $22,076,000 after purchasing an additional 9,414 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in shares of Invesco QQQ by 86.8% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,381 shares of the exchange traded fund's stock worth $1,728,000 after buying an additional 1,571 shares during the period. Carolinas Wealth Consulting LLC raised its stake in Invesco QQQ by 1,323.7% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 48,905 shares of the exchange traded fund's stock worth $25,002,000 after buying an additional 45,470 shares during the last quarter. Capital A Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter worth $295,000. Finally, Discipline Wealth Solutions LLC lifted its holdings in Invesco QQQ by 4.0% in the fourth quarter. Discipline Wealth Solutions LLC now owns 1,783 shares of the exchange traded fund's stock valued at $911,000 after buying an additional 69 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.3%

QQQ traded up $1.59 during trading on Thursday, reaching $520.50. 37,826,033 shares of the stock traded hands, compared to its average volume of 37,492,609. The stock's 50-day moving average is $477.01 and its 200 day moving average is $501.03. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The stock has a market capitalization of $326.17 billion, a PE ratio of 30.62 and a beta of 1.11.

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 paid 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.