RiverFront Investment Group LLC Purchases 14,377 Shares of Invesco QQQ (NASDAQ:QQQ)

RiverFront Investment Group LLC grew its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,784 shares of the exchange traded fund's stock after purchasing an additional 14,377 shares during the period. Invesco QQQ makes up approximately 1.9% of RiverFront Investment Group LLC's investment portfolio, making the stock its 17th biggest position. RiverFront Investment Group LLC's holdings in Invesco QQQ were worth $85,265,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Pamplona Capital Management LLC purchased a new position in shares of Invesco QQQ in the fourth quarter valued at $1,168,000. NBZ Investment Advisors LLC purchased a new position in shares of Invesco QQQ in the 4th quarter worth $1,608,000. Vertex Planning Partners LLC increased its holdings in shares of Invesco QQQ by 3.5% in the 4th quarter. Vertex Planning Partners LLC now owns 4,289 shares of the exchange traded fund's stock worth $2,193,000 after buying an additional 146 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Invesco QQQ by 21.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 111,377 shares of the exchange traded fund's stock valued at $56,939,000 after buying an additional 19,758 shares in the last quarter. Finally, Tepp RIA LLC bought a new position in shares of Invesco QQQ in the 4th quarter valued at about $12,333,000. 44.58% of the stock is owned by institutional investors.

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Invesco QQQ Stock Down 0.3 %

QQQ traded down $1.33 on Monday, hitting $467.61. The company had a trading volume of 39,497,193 shares, compared to its average volume of 35,097,340. Invesco QQQ has a 12-month low of $413.07 and a 12-month high of $540.81. The business's fifty day simple moving average is $508.43 and its 200 day simple moving average is $505.35. The company has a market cap of $294.71 billion, a PE ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Stockholders 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.