Baird Financial Group Inc. Buys 12,627 Shares of Invesco QQQ (NASDAQ:QQQ)

Baird Financial Group Inc. raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 327,433 shares of the exchange traded fund's stock after buying an additional 12,627 shares during the period. Baird Financial Group Inc. owned about 0.05% of Invesco QQQ worth $167,394,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of Invesco QQQ by 159.6% in the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund's stock worth $1,712,000 after acquiring an additional 2,059 shares in the last quarter. Principal Financial Group Inc. increased its position in Invesco QQQ by 141.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock worth $9,468,000 after buying an additional 11,351 shares during the period. Silverleafe Capital Partners LLC raised its stake in shares of Invesco QQQ by 16.8% during the fourth quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund's stock valued at $23,165,000 after acquiring an additional 6,518 shares during the last quarter. Synergy Investment Management LLC purchased a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $723,000. Finally, Grant Private Wealth Management Inc purchased a new stake in shares of Invesco QQQ during the fourth quarter worth $815,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Up 1.6 %

Shares of QQQ traded up $7.78 during mid-day trading on Thursday, hitting $491.08. 29,430,429 shares of the company traded hands, compared to its average volume of 36,383,003. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81. The company has a market capitalization of $307.74 billion, a PE ratio of 28.58 and a beta of 1.11. The business has a 50 day moving average of $468.11 and a 200 day moving average of $499.34.

Invesco QQQ Cuts Dividend

The firm also recently disclosed 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 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.