Invesco QQQ (NASDAQ:QQQ) is Steel Grove Capital Advisors LLC's 2nd Largest Position

Steel Grove Capital Advisors LLC reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,876 shares of the exchange traded fund's stock after selling 3,643 shares during the period. Invesco QQQ makes up approximately 18.1% of Steel Grove Capital Advisors LLC's holdings, making the stock its 2nd largest holding. Steel Grove Capital Advisors LLC's holdings in Invesco QQQ were worth $131,834,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Susquehanna Advisors Group Inc. purchased a new position in Invesco QQQ in the fourth quarter valued at about $344,530,000. Fayez Sarofim & Co grew its stake in shares of Invesco QQQ by 88.6% in the fourth quarter. Fayez Sarofim & Co now owns 9,399 shares of the exchange traded fund's stock valued at $4,805,000 after buying an additional 4,415 shares in the last quarter. J. Safra Sarasin Holding AG raised its holdings in shares of Invesco QQQ by 44.5% during the 4th quarter. J. Safra Sarasin Holding AG now owns 11,311 shares of the exchange traded fund's stock valued at $5,790,000 after buying an additional 3,484 shares during the period. Stifel Financial Corp lifted its position in Invesco QQQ by 3.7% during the 4th quarter. Stifel Financial Corp now owns 903,654 shares of the exchange traded fund's stock worth $462,039,000 after acquiring an additional 32,321 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its holdings in Invesco QQQ by 0.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 46,953 shares of the exchange traded fund's stock worth $24,004,000 after acquiring an additional 409 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.1 %

Shares of QQQ traded up $5.21 during mid-day trading on Friday, reaching $472.56. 38,606,996 shares of the stock traded hands, compared to its average volume of 36,566,733. The stock has a fifty day simple moving average of $475.73 and a 200 day simple moving average of $500.14. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The firm has a market cap of $302.39 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently declared 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 of this dividend 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.