Fortune 45 LLC Purchases 3,851 Shares of Invesco QQQ (NASDAQ:QQQ)

Fortune 45 LLC raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 73,220 shares of the exchange traded fund's stock after purchasing an additional 3,851 shares during the quarter. Invesco QQQ accounts for 24.4% of Fortune 45 LLC's investment portfolio, making the stock its 2nd biggest holding. Fortune 45 LLC's holdings in Invesco QQQ were worth $37,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Stephens Consulting LLC raised its stake in shares of Invesco QQQ by 0.4% during the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock worth $2,769,000 after buying an additional 19 shares during the last quarter. Cardinal Point Capital Management ULC increased its holdings in Invesco QQQ by 0.5% during the 4th 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 in the last quarter. Hoese & Co LLP raised its position in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after acquiring an additional 20 shares during the last quarter. Farmers & Merchants Investments Inc. raised its position in Invesco QQQ by 1.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock worth $559,000 after acquiring an additional 20 shares during the last quarter. Finally, RAM Investment Partners LLC lifted its holdings 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 purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.8 %

Shares of QQQ traded up $8.22 during mid-day trading on Friday, reaching $454.40. 52,407,577 shares of the company's stock were exchanged, compared to its average volume of 36,790,843. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The company has a market cap of $283.95 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11. The company has a 50-day simple moving average of $490.33 and a two-hundred day simple moving average of $502.54.

Invesco QQQ Cuts Dividend

The business also recently declared 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 of this dividend 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.