GAMMA Investing LLC Buys 1,868,580 Shares of Invesco QQQ (NASDAQ:QQQ)

GAMMA Investing LLC raised its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 55,795.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,871,929 shares of the exchange traded fund's stock after purchasing an additional 1,868,580 shares during the period. Invesco QQQ makes up about 1.6% of GAMMA Investing LLC's portfolio, making the stock its 11th largest holding. GAMMA Investing LLC owned approximately 0.30% of Invesco QQQ worth $8,777,850,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Proficio Capital Partners LLC lifted its position in shares of Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after buying an additional 11,478,188 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after acquiring an additional 756,990 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock valued at $2,103,184,000 after purchasing an additional 4,105,389 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after acquiring an additional 27,115 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Invesco QQQ by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock worth $1,239,886,000 after purchasing an additional 52,235 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.6%

QQQ traded down $3.24 during trading on Friday, reaching $516.69. 67,585,697 shares of the stock traded hands, compared to its average volume of 37,748,895. The stock's 50-day moving average is $478.06 and its 200 day moving average is $501.10. 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 $323.78 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 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.