Clark Capital Management Group Inc. Has $1.84 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Clark Capital Management Group Inc. raised its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 31.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,598 shares of the exchange traded fund's stock after buying an additional 856 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Invesco QQQ were worth $1,839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. PayPay Securities Corp increased its holdings in shares of Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ during the fourth quarter worth about $36,000. Roxbury Financial LLC purchased a new position in Invesco QQQ in the 4th quarter worth about $37,000. Finally, Hoese & Co LLP increased its stake in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.3%

NASDAQ QQQ traded up $1.77 during trading on Wednesday, reaching $517.36. 28,877,355 shares of the company's stock were exchanged, compared to its average volume of 43,804,180. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The firm has a market capitalization of $323.45 billion, a PE ratio of 30.62 and a beta of 1.18. The company's fifty day simple moving average is $468.45 and its 200-day simple moving average is $499.56.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were given a $0.7157 dividend. 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.