Invesco QQQ (NASDAQ:QQQ) Shares Purchased by Investment Partners Asset Management Inc.

Investment Partners Asset Management Inc. boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 29.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,124 shares of the exchange traded fund's stock after acquiring an additional 938 shares during the quarter. Invesco QQQ comprises 1.5% of Investment Partners Asset Management Inc.'s holdings, making the stock its 14th largest holding. Investment Partners Asset Management Inc.'s holdings in Invesco QQQ were worth $1,934,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Laurel Wealth Advisors LLC grew its stake in shares of Invesco QQQ by 26.2% in the first quarter. Laurel Wealth Advisors LLC now owns 574 shares of the exchange traded fund's stock valued at $269,000 after buying an additional 119 shares in the last quarter. Transform Wealth LLC grew its stake in shares of Invesco QQQ by 11.8% in the first quarter. Transform Wealth LLC now owns 3,518 shares of the exchange traded fund's stock valued at $1,652,000 after buying an additional 371 shares in the last quarter. Mainsail Financial Group LLC grew its stake in shares of Invesco QQQ by 5.9% in the first quarter. Mainsail Financial Group LLC now owns 4,323 shares of the exchange traded fund's stock valued at $2,027,000 after buying an additional 239 shares in the last quarter. USA Financial Formulas grew its stake in shares of Invesco QQQ by 454.9% in the first quarter. USA Financial Formulas now owns 10,909 shares of the exchange traded fund's stock valued at $5,115,000 after buying an additional 8,943 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV acquired a new stake in shares of Invesco QQQ in the first quarter valued at $128,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ traded down $6.70 during trading on Friday, reaching $526.96. The stock had a trading volume of 55,743,632 shares, compared to its average volume of 38,429,078. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The business's 50-day moving average price is $492.58 and its 200-day moving average price is $502.75. The company has a market cap of $330.22 billion, a P/E ratio of 32.66 and a beta of 1.11.

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 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.