Prospect Financial Services LLC Acquires 489 Shares of Invesco QQQ (NASDAQ:QQQ)

Prospect Financial Services LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,779 shares of the exchange traded fund's stock after buying an additional 489 shares during the quarter. Invesco QQQ comprises approximately 2.8% of Prospect Financial Services LLC's investment portfolio, making the stock its 9th largest holding. Prospect Financial Services LLC's holdings in Invesco QQQ were worth $5,054,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Wealth Group Ltd. increased its stake in 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 purchasing an additional 102 shares in the last quarter. Tallon Kerry Patrick acquired a new position in shares of Invesco QQQ during the fourth quarter valued at about $4,904,000. Capital & Planning LLC increased its position in shares of 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 acquiring an additional 229 shares in the last quarter. Naviter Wealth LLC raised its holdings in shares of Invesco QQQ by 8.8% in the 4th quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock worth $675,000 after acquiring an additional 107 shares during the last quarter. Finally, Eagle Capital Management LLC lifted its position in Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after acquiring an additional 185 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ stock opened at $524.79 on Friday. The business has a 50-day simple moving average of $482.06 and a two-hundred day simple moving average of $501.70. The company has a market capitalization of $328.86 billion, a P/E ratio of 32.66 and a beta of 1.11. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date 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.

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