Garner Asset Management Corp Buys 1,294 Shares of Invesco QQQ (NASDAQ:QQQ)

Garner Asset Management Corp raised its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,939 shares of the exchange traded fund's stock after acquiring an additional 1,294 shares during the period. Invesco QQQ makes up approximately 5.8% of Garner Asset Management Corp's holdings, making the stock its biggest holding. Garner Asset Management Corp's holdings in Invesco QQQ were worth $12,750,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stephens Consulting LLC increased its position in shares of Invesco QQQ by 0.4% during the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock worth $2,769,000 after acquiring an additional 19 shares during the period. Cardinal Point Capital Management ULC increased its holdings in Invesco QQQ by 0.5% during the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund's stock worth $1,995,000 after purchasing an additional 20 shares during the period. Hoese & Co LLP increased its holdings in Invesco QQQ by 32.3% during 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 during the period. Farmers & Merchants Investments Inc. boosted its stake in shares of Invesco QQQ by 1.9% in the 4th 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 grew its position in shares of 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 worth $597,000 after buying an additional 20 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 0.1 %

NASDAQ:QQQ traded down $0.36 during mid-day trading on Thursday, hitting $443.82. The stock had a trading volume of 44,745,116 shares, compared to its average volume of 36,747,518. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The company has a market capitalization of $284.56 billion, a PE ratio of 30.05 and a beta of 1.11. The stock has a 50-day simple moving average of $485.93 and a two-hundred day simple moving average of $501.62.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.