Northeast Financial Consultants Inc Has $93.25 Million Position in Invesco QQQ (NASDAQ:QQQ)

Northeast Financial Consultants Inc raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 182,400 shares of the exchange traded fund's stock after purchasing an additional 2,314 shares during the period. Invesco QQQ accounts for approximately 3.9% of Northeast Financial Consultants Inc's portfolio, making the stock its 5th largest position. Northeast Financial Consultants Inc's holdings in Invesco QQQ were worth $93,249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Principal Financial Group Inc. increased its stake 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 valued at $9,468,000 after purchasing an additional 11,351 shares in the last quarter. Wealth Group Ltd. boosted its stake in Invesco QQQ by 6.9% during the 4th quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund's stock valued at $810,000 after purchasing an additional 102 shares during the last quarter. RMR Wealth Builders increased its holdings in Invesco QQQ by 1.2% during the 4th quarter. RMR Wealth Builders now owns 11,446 shares of the exchange traded fund's stock worth $5,852,000 after purchasing an additional 131 shares in the last quarter. Thomasville National Bank increased its holdings in Invesco QQQ by 27.9% during the 4th quarter. Thomasville National Bank now owns 765 shares of the exchange traded fund's stock worth $391,000 after purchasing an additional 167 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its stake in shares of Invesco QQQ by 3.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,819 shares of the exchange traded fund's stock worth $2,975,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.4%

Shares of NASDAQ:QQQ traded up $2.26 during mid-day trading on Friday, hitting $521.51. 47,717,535 shares of the company traded hands, compared to its average volume of 36,809,600. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The stock has a market cap of $326.80 billion, a P/E ratio of 30.62 and a beta of 1.11. The stock has a 50-day moving average price of $469.91 and a two-hundred day moving average price of $499.86.

Invesco QQQ Cuts Dividend

The company also recently announced 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 was 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.