Tandem Investment Partners LLC Takes Position in Invesco QQQ (NASDAQ:QQQ)

Tandem Investment Partners LLC acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,043 shares of the exchange traded fund's stock, valued at approximately $4,623,000. Invesco QQQ accounts for about 4.4% of Tandem Investment Partners LLC's portfolio, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. PayPay Securities Corp boosted its position in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after purchasing an additional 36 shares during the period. Roxbury Financial LLC bought a new position in Invesco QQQ in the 4th quarter worth $37,000. Hoese & Co LLP increased its stake in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after buying an additional 20 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in Invesco QQQ during the fourth quarter valued at about $51,000. Finally, Perritt Capital Management Inc purchased a new position in shares of Invesco QQQ in the fourth quarter valued at about $61,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ traded up $8.22 during trading on Friday, reaching $454.40. 52,407,577 shares of the company traded hands, compared to its average volume of 36,858,069. The company has a market cap of $283.95 billion, a P/E ratio of 30.05 and a beta of 1.11. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The firm has a fifty day simple moving average of $490.33 and a 200 day simple moving average of $502.44.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be paid 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.