Cypress Asset Management Inc. TX Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Cypress Asset Management Inc. TX acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,719 shares of the exchange traded fund's stock, valued at approximately $1,901,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QQQ. Stephens Consulting LLC grew its holdings in Invesco QQQ by 0.4% in the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock valued at $2,769,000 after purchasing an additional 19 shares during the period. Farmers & Merchants Investments Inc. raised its position in shares of Invesco QQQ by 1.9% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock valued at $559,000 after buying an additional 20 shares during the last quarter. RAM Investment Partners LLC lifted its stake in Invesco QQQ by 1.7% in the 4th quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund's stock worth $597,000 after purchasing an additional 20 shares in the last quarter. HighMark Wealth Management LLC boosted its stake 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 worth $208,000 after buying an additional 20 shares during the last quarter. Finally, Providence First Trust Co boosted its position in shares of Invesco QQQ by 3.0% during the 4th quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund's stock valued at $346,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.3%

QQQ stock traded up $1.34 during midday trading on Thursday, hitting $520.25. 37,826,033 shares of the company's stock were exchanged, compared to its average volume of 37,492,609. The business has a 50-day simple moving average of $477.01 and a two-hundred day simple moving average of $501.03. The stock has a market capitalization of $326.01 billion, a PE ratio of 30.62 and a beta of 1.11. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81.

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 given 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.