Michels Family Financial LLC Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Michels Family Financial LLC purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,256 shares of the exchange traded fund's stock, valued at approximately $2,176,000. Invesco QQQ comprises approximately 2.0% of Michels Family Financial LLC's investment portfolio, making the stock its 11th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its holdings in shares of Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after buying an additional 11,478,188 shares during the last quarter. Strategic Financial Concepts LLC increased its position in Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after acquiring an additional 4,105,389 shares during the period. NWI Management LP increased its position in Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after acquiring an additional 3,648,000 shares during the period. Senator Investment Group LP bought a new position in Invesco QQQ during the fourth quarter worth $679,936,000. Finally, Artemis Wealth Advisors LLC raised its stake in Invesco QQQ by 1,337.4% during the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund's stock valued at $423,470,000 after purchasing an additional 895,277 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.9%

Invesco QQQ stock traded down $4.76 during mid-day trading on Monday, reaching $509.24. The company had a trading volume of 58,324,904 shares, compared to its average volume of 37,363,809. The firm has a market cap of $319.12 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. The company has a 50 day moving average of $474.84 and a 200-day moving average of $500.80. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were given a dividend of $0.7157 per share. 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.