Novem Group Purchases Shares of 2,293 Invesco QQQ (NASDAQ:QQQ)

Novem Group acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,293 shares of the exchange traded fund's stock, valued at approximately $1,172,000.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Invesco QQQ by 141.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock worth $9,468,000 after purchasing an additional 11,351 shares during the last quarter. Wealth Group Ltd. boosted its stake in shares of Invesco QQQ by 6.9% during the 4th quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund's stock valued at $810,000 after buying an additional 102 shares during the last quarter. Tallon Kerry Patrick acquired a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $4,904,000. Capital & Planning LLC increased its stake in shares of Invesco QQQ by 5.0% in the fourth quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund's stock worth $2,477,000 after buying an additional 229 shares during the last quarter. Finally, Naviter Wealth LLC raised its holdings in Invesco QQQ by 8.8% in the fourth quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock valued at $675,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $520.27 on Wednesday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81. The firm's 50-day simple moving average is $472.85 and its 200-day simple moving average is $500.53. The firm has a market cap of $326.03 billion, a PE ratio of 30.62 and a beta of 1.11.

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 $0.7157 dividend. The ex-dividend date 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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