Strive Asset Management LLC Invests $16.48 Million in Invesco QQQ (NASDAQ:QQQ)

Strive Asset Management LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 32,237 shares of the exchange traded fund's stock, valued at approximately $16,481,000. Invesco QQQ comprises about 12.4% of Strive Asset Management LLC's investment portfolio, making the stock its largest position.

Several other institutional investors have also modified their holdings of QQQ. Safeguard Investment Advisory Group LLC lifted its position in shares of Invesco QQQ by 1.6% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 89,380 shares of the exchange traded fund's stock worth $45,699,000 after purchasing an additional 1,429 shares during the last quarter. Scientech Research LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at $1,681,000. Scissortail Wealth Management LLC lifted its position in Invesco QQQ by 2,185.5% in the fourth quarter. Scissortail Wealth Management LLC now owns 18,741 shares of the exchange traded fund's stock valued at $9,581,000 after acquiring an additional 17,921 shares during the last quarter. Sentinus LLC lifted its position in Invesco QQQ by 17.6% in the fourth quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock valued at $3,307,000 after acquiring an additional 970 shares during the last quarter. Finally, Security National Bank of SO Dak purchased a new stake in Invesco QQQ in the fourth quarter valued at $586,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.3%

Shares of QQQ stock traded down $1.74 during trading hours on Tuesday, hitting $520.27. The company's stock had a trading volume of 42,067,868 shares, compared to its average volume of 36,948,198. The business has a fifty day moving average of $471.81 and a 200-day moving average of $500.39. The stock has a market cap of $326.03 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81.

Invesco QQQ Cuts Dividend

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