Institute for Wealth Management LLC. Purchases 5,122 Shares of Invesco QQQ (NASDAQ:QQQ)

Institute for Wealth Management LLC. boosted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,630 shares of the exchange traded fund's stock after purchasing an additional 5,122 shares during the quarter. Invesco QQQ comprises 1.5% of Institute for Wealth Management LLC.'s holdings, making the stock its 5th biggest position. Institute for Wealth Management LLC.'s holdings in Invesco QQQ were worth $12,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of QQQ. Proficio Capital Partners LLC grew its position in Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after buying an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Invesco QQQ by 20.2% in 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 period. PNC Financial Services Group Inc. boosted its holdings in shares of Invesco QQQ by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after acquiring an additional 27,115 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Invesco QQQ by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after acquiring an additional 52,235 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after acquiring an additional 568,120 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $528.99 on Thursday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The stock's 50 day moving average price is $497.46 and its 200 day moving average price is $503.26.

Invesco QQQ Cuts Dividend

The company 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.

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.

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