Invesco QQQ (NASDAQ:QQQ) is Garner Asset Management Corp's Largest Position

Garner Asset Management Corp grew its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,939 shares of the exchange traded fund's stock after buying an additional 1,294 shares during the period. Invesco QQQ makes up about 5.8% of Garner Asset Management Corp's investment portfolio, making the stock its largest holding. Garner Asset Management Corp's holdings in Invesco QQQ were worth $12,750,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of QQQ. Proficio Capital Partners LLC raised its holdings in shares of Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after acquiring an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after buying an additional 4,105,389 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Invesco QQQ by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after acquiring an additional 27,115 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Invesco QQQ by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock worth $1,239,886,000 after acquiring an additional 52,235 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp lifted its holdings in shares of Invesco QQQ by 0.8% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 1,840,025 shares of the exchange traded fund's stock worth $940,676,000 after acquiring an additional 13,772 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

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Invesco QQQ Trading Up 0.9 %

Shares of NASDAQ QQQ traded up $4.32 during midday trading on Tuesday, hitting $461.80. The company's stock had a trading volume of 4,409,503 shares, compared to its average volume of 36,698,154. The business's 50 day moving average is $488.94 and its two-hundred day moving average is $502.33. 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 $288.58 billion, a P/E ratio of 30.05 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

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.