Zhang Financial LLC Has $3.75 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Zhang Financial LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 32.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,002 shares of the exchange traded fund's stock after purchasing an additional 1,956 shares during the quarter. Zhang Financial LLC's holdings in Invesco QQQ were worth $3,752,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Chris Bulman Inc raised its position in Invesco QQQ by 20.4% during the first quarter. Chris Bulman Inc now owns 14,830 shares of the exchange traded fund's stock valued at $6,954,000 after purchasing an additional 2,509 shares in the last quarter. Investment Partners Asset Management Inc. grew its stake in shares of Invesco QQQ by 29.4% in the first quarter. Investment Partners Asset Management Inc. now owns 4,124 shares of the exchange traded fund's stock worth $1,934,000 after purchasing an additional 938 shares during the last quarter. Laurel Wealth Advisors LLC increased its stake in shares of Invesco QQQ by 26.2% in the first quarter. Laurel Wealth Advisors LLC now owns 574 shares of the exchange traded fund's stock valued at $269,000 after buying an additional 119 shares during the period. Transform Wealth LLC raised its holdings in Invesco QQQ by 11.8% during the 1st quarter. Transform Wealth LLC now owns 3,518 shares of the exchange traded fund's stock worth $1,652,000 after purchasing an additional 371 shares during the last quarter. Finally, Mainsail Financial Group LLC raised its stake in Invesco QQQ by 5.9% during the first quarter. Mainsail Financial Group LLC now owns 4,323 shares of the exchange traded fund's stock worth $2,027,000 after buying an additional 239 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $1.25 during midday trading on Thursday, reaching $533.66. The company's stock had a trading volume of 33,939,410 shares, compared to its average volume of 38,249,587. The firm has a market capitalization of $334.42 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The firm has a 50 day moving average price of $488.16 and a two-hundred day moving average price of $502.45.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were paid 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.