Nuveen Asset Management LLC Acquires New Stake in Invesco QQQ (NASDAQ:QQQ)

Nuveen Asset Management LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,000 shares of the exchange traded fund's stock, valued at approximately $11,247,000.

A number of other large investors have also added to or reduced their stakes in the stock. Synergy Investment Management LLC bought a new stake in Invesco QQQ during the fourth quarter worth $723,000. Grant Private Wealth Management Inc bought a new stake in Invesco QQQ during the fourth quarter worth $815,000. Tandem Investment Partners LLC bought a new stake in Invesco QQQ during the fourth quarter worth $4,623,000. Gemsstock Ltd. lifted its stake in Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after purchasing an additional 213,400 shares during the last quarter. Finally, Wescott Financial Advisory Group LLC lifted its stake in Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after purchasing an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ traded down $3.24 during trading hours on Friday, reaching $516.69. The stock had a trading volume of 67,585,697 shares, compared to its average volume of 37,676,372. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The stock has a market capitalization of $323.78 billion, a PE ratio of 30.62 and a beta of 1.11. The company's 50-day moving average is $478.06 and its two-hundred day moving average is $501.02.

Invesco QQQ Cuts Dividend

The company also recently declared 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.

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.