4,256 Shares in Invesco QQQ (NASDAQ:QQQ) Acquired by Michels Family Financial LLC

Michels Family Financial LLC acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,256 shares of the exchange traded fund's stock, valued at approximately $2,176,000. Invesco QQQ accounts for 2.0% of Michels Family Financial LLC's holdings, making the stock its 11th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. PayPay Securities Corp lifted its position 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 period. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ during the fourth quarter worth $36,000. Roxbury Financial LLC bought a new stake in Invesco QQQ in the 4th quarter valued at $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in Invesco QQQ in the 4th quarter valued at $51,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ QQQ traded up $0.29 during trading on Wednesday, reaching $521.51. 19,495,997 shares of the company traded hands, compared to its average volume of 37,335,140. 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 $326.81 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. The stock's 50 day moving average price is $476.24 and its two-hundred day moving average price is $500.91.

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 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.