Richmond Investment Services LLC purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,163 shares of the exchange traded fund's stock, valued at approximately $14,909,000. Invesco QQQ accounts for about 8.4% of Richmond Investment Services LLC's portfolio, making the stock its 3rd biggest holding.
Several other hedge funds have also added to or reduced their stakes in the company. Synergy Investment Management LLC bought a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $723,000. Grant Private Wealth Management Inc bought a new stake in shares of Invesco QQQ in the fourth quarter valued at about $815,000. Tandem Investment Partners LLC bought a new stake in Invesco QQQ in the 4th quarter valued at about $4,623,000. Gemsstock Ltd. boosted its stake in shares of Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after buying an additional 213,400 shares during the period. Finally, Wescott Financial Advisory Group LLC grew its holdings in shares of Invesco QQQ by 1.8% during the 4th 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 in the last quarter. Institutional investors own 44.58% of the company's stock.
Invesco QQQ Trading Up 0.0%
QQQ stock traded up $0.24 during mid-day trading on Wednesday, hitting $521.46. The stock had a trading volume of 17,837,608 shares, compared to its average volume of 37,330,140. The firm has a fifty day simple moving average of $476.24 and a 200 day simple moving average of $500.91. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The firm has a market capitalization of $326.77 billion, a P/E ratio of 30.62 and a beta of 1.11.
Invesco QQQ Cuts Dividend
The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were given a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.
Invesco QQQ Company Profile
(
Free Report)
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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