Redwood Investment Management LLC boosted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 74.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,977 shares of the exchange traded fund's stock after purchasing an additional 2,986 shares during the period. Redwood Investment Management LLC's holdings in Invesco QQQ were worth $3,567,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in Invesco QQQ by 141.0% during the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock worth $9,468,000 after acquiring an additional 11,351 shares during the period. Synergy Investment Management LLC purchased a new stake in shares of Invesco QQQ during the 4th quarter worth $723,000. Grant Private Wealth Management Inc purchased a new stake in shares of Invesco QQQ during the 4th quarter worth $815,000. Tandem Investment Partners LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth $4,623,000. Finally, Gemsstock Ltd. increased its holdings in shares of Invesco QQQ by 266.4% in the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after purchasing an additional 213,400 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.
Invesco QQQ Stock Up 0.6%
Shares of NASDAQ QQQ opened at $518.68 on Thursday. The stock has a market capitalization of $324.28 billion, a price-to-earnings ratio of 30.62 and a beta of 1.18. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The firm has a 50-day moving average price of $468.98 and a 200 day moving average price of $499.70.
Invesco QQQ Cuts Dividend
The business also recently declared a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were given a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.
About Invesco QQQ
(
Free Report)
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.
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