Granite Bay Wealth Management LLC Has $8.23 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Granite Bay Wealth Management LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 13.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,557 shares of the exchange traded fund's stock after purchasing an additional 2,149 shares during the period. Invesco QQQ accounts for 2.9% of Granite Bay Wealth Management LLC's investment portfolio, making the stock its 9th biggest holding. Granite Bay Wealth Management LLC's holdings in Invesco QQQ were worth $8,233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of QQQ. Proficio Capital Partners LLC lifted its holdings in 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 purchasing an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Invesco QQQ by 47,853.9% during 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 buying an additional 4,105,389 shares during the period. NWI Management LP lifted its holdings in shares of Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after buying an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Finally, Senator Investment Group LP bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $679,936,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.8%

NASDAQ:QQQ traded down $3.98 during mid-day trading on Thursday, hitting $524.79. 60,873,940 shares of the stock traded hands, compared to its average volume of 37,913,928. The business's 50-day moving average price is $480.94 and its 200 day moving average price is $501.53. The company has a market cap of $337.36 billion, a PE ratio of 32.66 and a beta of 1.18. Invesco QQQ has a 12-month low of $402.39 and a 12-month 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 was Monday, March 24th.

About Invesco QQQ

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.