Sagespring Wealth Partners LLC Increases Stock Position in Invesco QQQ (NASDAQ:QQQ)

Sagespring Wealth Partners LLC raised its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1,408.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,203 shares of the exchange traded fund's stock after buying an additional 104,765 shares during the period. Invesco QQQ comprises about 0.5% of Sagespring Wealth Partners LLC's investment portfolio, making the stock its 23rd biggest holding. Sagespring Wealth Partners LLC's holdings in Invesco QQQ were worth $52,614,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Variant Private Wealth LLC boosted its position in Invesco QQQ by 22.4% during the 1st quarter. Variant Private Wealth LLC now owns 1,323 shares of the exchange traded fund's stock valued at $620,000 after buying an additional 242 shares during the period. Precedent Wealth Partners LLC lifted its position in shares of Invesco QQQ by 41.1% in the 1st quarter. Precedent Wealth Partners LLC now owns 1,493 shares of the exchange traded fund's stock worth $700,000 after purchasing an additional 435 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC lifted its position in shares of Invesco QQQ by 7.1% in the 1st quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 9,172 shares of the exchange traded fund's stock worth $4,074,000 after purchasing an additional 605 shares during the period. Adero Partners LLC lifted its position in shares of Invesco QQQ by 1.3% in the 1st quarter. Adero Partners LLC now owns 4,923 shares of the exchange traded fund's stock worth $2,309,000 after purchasing an additional 63 shares during the period. Finally, Sowell Financial Services LLC lifted its position in shares of Invesco QQQ by 1.9% in the 1st quarter. Sowell Financial Services LLC now owns 117,726 shares of the exchange traded fund's stock worth $55,204,000 after purchasing an additional 2,191 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 1.3%

NASDAQ:QQQ opened at $526.96 on Monday. The company has a 50-day moving average price of $492.58 and a 200-day moving average price of $502.73. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The stock has a market cap of $330.22 billion, a price-to-earnings 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 given a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

Invesco QQQ 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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