Milestone Asset Management Group LLC Takes Position in Invesco QQQ (NASDAQ:QQQ)

Milestone Asset Management Group LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,615 shares of the exchange traded fund's stock, valued at approximately $5,938,000. Invesco QQQ accounts for about 5.3% of Milestone Asset Management Group LLC's holdings, making the stock its largest holding.

Other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its holdings in Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after purchasing an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock valued at $2,103,184,000 after purchasing an additional 4,105,389 shares in the last quarter. NWI Management LP boosted its holdings in Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after purchasing an additional 3,648,000 shares in the last quarter. Senator Investment Group LP acquired a new position in Invesco QQQ in the fourth quarter valued at approximately $679,936,000. Finally, Artemis Wealth Advisors LLC boosted its holdings in Invesco QQQ by 1,337.4% in the fourth 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 in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.6%

QQQ traded down $3.24 on Friday, reaching $516.69. The company's stock had a trading volume of 67,585,697 shares, compared to its average volume of 37,676,372. The stock has a 50 day moving average of $478.06 and a two-hundred day moving average of $500.97. The company has a market capitalization of $323.78 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81.

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 issued a $0.7157 dividend. The ex-dividend date of this dividend 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.