Sweeney & Michel LLC Purchases New Position in Invesco QQQ (NASDAQ:QQQ)

Sweeney & Michel LLC acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 645 shares of the exchange traded fund's stock, valued at approximately $302,000.

A number of other hedge funds also recently made changes to their positions in the business. Wealth Group Ltd. increased its stake in Invesco QQQ by 6.9% in the 4th quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund's stock worth $810,000 after purchasing an additional 102 shares during the period. Tallon Kerry Patrick bought a new stake in Invesco QQQ during the 4th quarter valued at about $4,904,000. Capital & Planning LLC increased its holdings in shares of Invesco QQQ by 5.0% in the 4th quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund's stock worth $2,477,000 after purchasing an additional 229 shares in the last quarter. Naviter Wealth LLC grew its stake in shares of Invesco QQQ by 8.8% in the fourth 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 period. Finally, Eagle Capital Management LLC lifted its holdings in shares of Invesco QQQ by 0.3% during 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 buying an additional 185 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.3%

QQQ traded up $1.47 during midday trading on Wednesday, reaching $528.77. The company had a trading volume of 40,736,474 shares, compared to its average volume of 37,762,773. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81. The company has a market cap of $339.92 billion, a P/E ratio of 32.66 and a beta of 1.18. The business has a 50-day moving average of $479.75 and a two-hundred day moving average of $501.34.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued a $0.7157 dividend. 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.