M1 Capital Management LLC Buys Shares of 15,262 Invesco QQQ (NASDAQ:QQQ)

M1 Capital Management LLC acquired a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,262 shares of the exchange traded fund's stock, valued at approximately $7,802,000. Invesco QQQ makes up about 4.2% of M1 Capital Management LLC's investment portfolio, making the stock its 5th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. PayPay Securities Corp raised its position in shares of Invesco QQQ by 276.9% during the fourth 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 bought a new stake in shares of Invesco QQQ during the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ during the fourth quarter worth $36,000. Roxbury Financial LLC bought a new stake in shares of Invesco QQQ during the fourth quarter worth $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Invesco QQQ during the fourth quarter worth $51,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ stock traded up $1.02 on Thursday, reaching $519.93. 58,441,678 shares of the stock were exchanged, compared to its average volume of 37,601,022. The stock has a market cap of $325.81 billion, a PE ratio of 30.62 and a beta of 1.11. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The stock has a 50 day moving average price of $477.01 and a 200 day moving average price of $501.03.

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 given a dividend of $0.7157 per share. The ex-dividend date 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.