Fayez Sarofim & Co Grows Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Fayez Sarofim & Co increased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 88.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,399 shares of the exchange traded fund's stock after purchasing an additional 4,415 shares during the quarter. Fayez Sarofim & Co's holdings in Invesco QQQ were worth $4,805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. J. Safra Sarasin Holding AG boosted its position in Invesco QQQ by 44.5% in the fourth quarter. J. Safra Sarasin Holding AG now owns 11,311 shares of the exchange traded fund's stock worth $5,790,000 after purchasing an additional 3,484 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Invesco QQQ by 3.7% in the 4th quarter. Stifel Financial Corp now owns 903,654 shares of the exchange traded fund's stock worth $462,039,000 after purchasing an additional 32,321 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in shares of Invesco QQQ by 0.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 46,953 shares of the exchange traded fund's stock worth $24,004,000 after buying an additional 409 shares during the last quarter. Optivise Advisory Services LLC grew its position in Invesco QQQ by 16.7% during the fourth quarter. Optivise Advisory Services LLC now owns 3,345 shares of the exchange traded fund's stock valued at $1,710,000 after buying an additional 479 shares during the period. Finally, Senator Investment Group LP purchased a new stake in Invesco QQQ during the fourth quarter valued at approximately $679,936,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $5.21 during mid-day trading on Friday, reaching $472.56. 38,584,534 shares of the company's stock traded hands, compared to its average volume of 36,566,637. The firm has a market capitalization of $302.39 billion, a PE ratio of 28.58 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 50 day moving average price of $475.73 and a two-hundred day moving average price of $500.14.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.