Sanders Morris Harris LLC Raises Holdings in Invesco QQQ (NASDAQ:QQQ)

Sanders Morris Harris LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 254,526 shares of the exchange traded fund's stock after acquiring an additional 22,798 shares during the period. Invesco QQQ makes up 18.5% of Sanders Morris Harris LLC's holdings, making the stock its biggest holding. Sanders Morris Harris LLC's holdings in Invesco QQQ were worth $119,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. PayPay Securities Corp boosted its stake in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ in the fourth quarter worth approximately $36,000. Roxbury Financial LLC purchased a new position in Invesco QQQ in the fourth quarter worth approximately $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in Invesco QQQ in the fourth quarter worth approximately $51,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded up $4.10 during trading on Monday, hitting $523.21. 44,563,388 shares of the company were exchanged, compared to its average volume of 37,701,761. The stock has a market capitalization of $327.87 billion, a P/E ratio of 30.62 and a beta of 1.11. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The firm's 50 day moving average price is $478.06 and its 200-day moving average price is $500.97.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors 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 Company 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.