Topsail Wealth Management LLC Invests $1.35 Million in Invesco QQQ (NASDAQ:QQQ)

Topsail Wealth Management LLC purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,633 shares of the exchange traded fund's stock, valued at approximately $1,346,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Stephens Consulting LLC boosted its position in shares of Invesco QQQ by 0.4% in the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock valued at $2,769,000 after acquiring an additional 19 shares during the period. Cardinal Point Capital Management ULC boosted its position in shares of Invesco QQQ by 0.5% in the fourth quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund's stock valued at $1,995,000 after acquiring an additional 20 shares during the period. Hoese & Co LLP boosted its position in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after acquiring an additional 20 shares during the period. Farmers & Merchants Investments Inc. boosted its position in shares of Invesco QQQ by 1.9% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock valued at $559,000 after acquiring an additional 20 shares during the period. Finally, RAM Investment Partners LLC boosted its position in shares of Invesco QQQ by 1.7% in the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund's stock valued at $597,000 after acquiring an additional 20 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock traded down $0.40 during mid-day trading on Tuesday, hitting $472.01. 14,837,405 shares of the company traded hands, compared to its average volume of 44,335,934. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The stock has a market cap of $299.09 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11. The stock has a fifty day moving average price of $473.06 and a 200-day moving average price of $499.98.

Invesco QQQ Cuts Dividend

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