Scientech Research LLC Invests $1.68 Million in Invesco QQQ (NASDAQ:QQQ)

Scientech Research LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,289 shares of the exchange traded fund's stock, valued at approximately $1,681,000. Invesco QQQ accounts for approximately 0.5% of Scientech Research LLC's holdings, making the stock its 17th biggest position.

Several other hedge funds have also recently made changes to their positions in QQQ. Principal Financial Group Inc. grew its position 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 buying an additional 11,351 shares in the last quarter. Synergy Investment Management LLC purchased a new position in Invesco QQQ during the fourth quarter worth about $723,000. Grant Private Wealth Management Inc purchased a new position in Invesco QQQ during the fourth quarter worth about $815,000. Tandem Investment Partners LLC purchased a new position in Invesco QQQ during the fourth quarter worth about $4,623,000. Finally, Gemsstock Ltd. grew its position in Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after buying an additional 213,400 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock traded up $0.50 during midday trading on Monday, hitting $522.01. 52,372,954 shares of the company's stock were exchanged, compared to its average volume of 36,875,768. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The stock has a 50-day moving average price of $470.91 and a two-hundred day moving average price of $500.15. The company has a market cap of $327.12 billion, a P/E ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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