Morton Capital Management LLC CA Purchases 788 Shares of Invesco QQQ (NASDAQ:QQQ)

Morton Capital Management LLC CA grew its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,223 shares of the exchange traded fund's stock after purchasing an additional 788 shares during the period. Invesco QQQ comprises about 0.5% of Morton Capital Management LLC CA's holdings, making the stock its 20th largest holding. Morton Capital Management LLC CA's holdings in Invesco QQQ were worth $2,449,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in QQQ. Wealth Group Ltd. lifted its stake in Invesco QQQ by 6.9% during the fourth quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund's stock worth $810,000 after purchasing an additional 102 shares during the last quarter. Tallon Kerry Patrick bought a new stake in Invesco QQQ during the fourth quarter worth about $4,904,000. Capital & Planning LLC lifted its stake in Invesco QQQ by 5.0% during the fourth quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund's stock worth $2,477,000 after purchasing an additional 229 shares during the last quarter. Naviter Wealth LLC lifted its stake in Invesco QQQ by 8.8% during the fourth quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock worth $675,000 after purchasing an additional 107 shares during the last quarter. Finally, Eagle Capital Management LLC lifted its stake in Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after purchasing an additional 185 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 1.3%

NASDAQ QQQ opened at $526.96 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81. The stock has a 50-day moving average of $492.58 and a 200-day moving average of $502.75. The firm has a market cap of $330.22 billion, a PE ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently announced 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 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.

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