Lionshead Wealth Management LLC Takes Position in Invesco QQQ (NASDAQ:QQQ)

Lionshead Wealth Management LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,374 shares of the exchange traded fund's stock, valued at approximately $2,236,000. Invesco QQQ accounts for approximately 1.6% of Lionshead Wealth Management LLC's investment portfolio, making the stock its 19th biggest position.

Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC raised its position in Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after acquiring an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. raised its position in Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after acquiring an additional 756,990 shares in the last quarter. Strategic Financial Concepts LLC raised its position in Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after acquiring an additional 4,105,389 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Invesco QQQ by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after acquiring an additional 27,115 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Invesco QQQ by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock worth $1,239,886,000 after acquiring an additional 52,235 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.6%

Shares of QQQ stock traded up $3.09 during mid-day trading on Wednesday, reaching $518.68. The stock had a trading volume of 46,863,846 shares, compared to its average volume of 36,719,434. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The company has a market cap of $324.28 billion, a P/E ratio of 30.62 and a beta of 1.18. The business has a 50-day simple moving average of $468.45 and a 200 day simple moving average of $499.56.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, April 30th. Stockholders 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.