Cherrydale Wealth Management LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,041 shares of the exchange traded fund's stock after purchasing an additional 1,532 shares during the period. Invesco QQQ comprises 2.6% of Cherrydale Wealth Management LLC's investment portfolio, making the stock its 9th biggest position. Cherrydale Wealth Management LLC's holdings in Invesco QQQ were worth $6,584,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. PayPay Securities Corp increased its stake in shares of Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after acquiring an additional 36 shares during the last quarter. 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. acquired a new position in Invesco QQQ during the 4th quarter worth $36,000. Roxbury Financial LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Invesco QQQ in the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 44.58% of the company's stock.
Invesco QQQ Stock Performance
QQQ stock traded up $0.78 during midday trading on Monday, reaching $530.70. 33,438,171 shares of the company were exchanged, compared to its average volume of 38,043,645. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81. The company has a market cap of $332.56 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. The stock's 50-day simple moving average is $483.20 and its 200 day simple moving average is $501.85.
Invesco QQQ Cuts Dividend
The company also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.
About Invesco QQQ
(
Free Report)
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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