Invesco QQQ (NASDAQ:QQQ) is Steele Capital Management Inc.'s 6th Largest Position

Steele Capital Management Inc. grew its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,970 shares of the exchange traded fund's stock after buying an additional 1,599 shares during the quarter. Invesco QQQ accounts for approximately 5.1% of Steele Capital Management Inc.'s investment portfolio, making the stock its 6th biggest holding. Steele Capital Management Inc.'s holdings in Invesco QQQ were worth $98,609,000 at the end of the most recent quarter.

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

Invesco QQQ Price Performance

NASDAQ QQQ traded down $6.70 during trading on Friday, hitting $526.96. 55,743,632 shares of the company's stock traded hands, compared to its average volume of 38,429,078. The stock has a fifty day moving average of $492.58 and a two-hundred day moving average of $502.75. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The firm has a market cap of $330.22 billion, a P/E ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently declared 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 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.