Affinity Wealth Management LLC Increases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Affinity Wealth Management LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 21.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 87,683 shares of the exchange traded fund's stock after acquiring an additional 15,461 shares during the period. Invesco QQQ accounts for approximately 7.6% of Affinity Wealth Management LLC's investment portfolio, making the stock its biggest holding. Affinity Wealth Management LLC's holdings in Invesco QQQ were worth $41,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Farmers & Merchants Investments Inc. grew its position in shares of Invesco QQQ by 1.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock worth $559,000 after acquiring an additional 20 shares in the last quarter. RAM Investment Partners LLC lifted its holdings in shares of 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 during the last quarter. HighMark Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 5.2% in the 4th quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund's stock worth $208,000 after purchasing an additional 20 shares during the last quarter. Providence First Trust Co lifted its holdings in shares of Invesco QQQ by 3.0% in the 4th quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund's stock worth $346,000 after purchasing an additional 20 shares during the last quarter. Finally, Diversified Enterprises LLC lifted its holdings in shares of Invesco QQQ by 0.4% in the 4th quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund's stock worth $2,679,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ traded up $5.13 during mid-day trading on Friday, hitting $529.92. The company had a trading volume of 42,389,151 shares, compared to its average volume of 38,011,687. The stock has a market cap of $332.07 billion, a price-to-earnings ratio of 32.66 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 simple moving average is $482.06 and its two-hundred day simple moving average is $501.70.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued 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.