Rialto Wealth Management LLC Acquires New Stake in Invesco QQQ (NASDAQ:QQQ)

Rialto Wealth Management LLC acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,823 shares of the exchange traded fund's stock, valued at approximately $1,443,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Invesco QQQ by 159.6% in the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund's stock valued at $1,712,000 after purchasing an additional 2,059 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Invesco QQQ by 141.0% in the third 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. NRI Wealth Management LC bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $28,729,000. Garden State Investment Advisory Services LLC lifted its holdings in shares of Invesco QQQ by 13.1% in the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund's stock valued at $15,169,000 after purchasing an additional 3,581 shares in the last quarter. Finally, Silverleafe Capital Partners LLC lifted its holdings in shares of Invesco QQQ by 16.8% in the fourth quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund's stock valued at $23,165,000 after purchasing an additional 6,518 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

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Invesco QQQ Price Performance

Shares of QQQ stock traded up $3.59 during trading hours on Friday, reaching $491.79. The company had a trading volume of 54,649,747 shares, compared to its average volume of 34,845,187. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $540.81. The business has a fifty day simple moving average of $518.84 and a 200-day simple moving average of $503.99. The company has a market cap of $309.95 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11.

Invesco QQQ Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

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.