Gerber Kawasaki Wealth & Investment Management Has $14.52 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Gerber Kawasaki Wealth & Investment Management grew its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,409 shares of the exchange traded fund's stock after buying an additional 2,347 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in Invesco QQQ were worth $14,524,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Stephens Consulting LLC raised its position in Invesco QQQ by 0.4% during the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock valued at $2,769,000 after buying an additional 19 shares during the period. Cardinal Point Capital Management ULC raised its position in Invesco QQQ by 0.5% during the fourth quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund's stock valued at $1,995,000 after buying an additional 20 shares during the period. Hoese & Co LLP raised its position in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after buying an additional 20 shares during the period. Farmers & Merchants Investments Inc. raised its position in Invesco QQQ by 1.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock valued at $559,000 after buying an additional 20 shares during the period. Finally, RAM Investment Partners LLC raised its position in Invesco QQQ by 1.7% during the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund's stock valued at $597,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ traded down $5.29 during trading hours on Wednesday, hitting $470.24. 23,997,527 shares of the company's stock traded hands, compared to its average volume of 36,409,923. The firm has a market cap of $297.97 billion, a P/E ratio of 28.58 and a beta of 1.11. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The stock's fifty day moving average price is $471.82 and its two-hundred day moving average price is $499.81.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date is 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.