Virtue Capital Management LLC Has $7.84 Million Position in Invesco QQQ (NASDAQ:QQQ)

Virtue Capital Management LLC reduced its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 60.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,332 shares of the exchange traded fund's stock after selling 23,087 shares during the quarter. Invesco QQQ comprises 1.6% of Virtue Capital Management LLC's portfolio, making the stock its 15th largest holding. Virtue Capital Management LLC's holdings in Invesco QQQ were worth $7,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its stake in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after buying an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the period. NWI Management LP grew its position in Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after purchasing an additional 3,648,000 shares in the last quarter. Senator Investment Group LP purchased a new position in Invesco QQQ during the 4th quarter worth approximately $679,936,000. Finally, Artemis Wealth Advisors LLC grew its position in Invesco QQQ by 1,337.4% during the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund's stock worth $423,470,000 after purchasing an additional 895,277 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ traded up $1.53 on Thursday, hitting $520.44. 35,833,216 shares of the stock were exchanged, compared to its average volume of 37,484,753. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The company has a market capitalization of $326.13 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. The company's 50-day moving average price is $477.01 and its two-hundred day moving average price is $501.03.

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.

About Invesco QQQ

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.