BlueChip Wealth Advisors LLC Has $6.05 Million Position in Invesco QQQ (NASDAQ:QQQ)

BlueChip Wealth Advisors LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,828 shares of the exchange traded fund's stock after buying an additional 1,229 shares during the period. Invesco QQQ comprises 3.4% of BlueChip Wealth Advisors LLC's holdings, making the stock its 8th largest holding. BlueChip Wealth Advisors LLC's holdings in Invesco QQQ were worth $6,048,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Okabena Investment Services Inc. purchased a new position in Invesco QQQ in the fourth quarter worth about $1,550,000. Allianz SE bought a new position in shares of Invesco QQQ during the 4th quarter valued at approximately $54,696,000. Tucker Asset Management LLC raised its holdings in Invesco QQQ by 6.0% during the 4th quarter. Tucker Asset Management LLC now owns 68,682 shares of the exchange traded fund's stock valued at $35,112,000 after buying an additional 3,903 shares during the period. Valley Forge Investment Consultants Inc. ADV lifted its position in Invesco QQQ by 71.3% in the fourth quarter. Valley Forge Investment Consultants Inc. ADV now owns 961 shares of the exchange traded fund's stock worth $492,000 after buying an additional 400 shares during the last quarter. Finally, Mechanics Financial Corp boosted its stake in Invesco QQQ by 222.2% during the fourth quarter. Mechanics Financial Corp now owns 203 shares of the exchange traded fund's stock worth $104,000 after buying an additional 140 shares during the period. 44.58% of the stock is currently owned by institutional investors.

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Invesco QQQ Stock Performance

QQQ stock traded up $2.51 during mid-day trading on Tuesday, reaching $471.43. 20,583,290 shares of the stock traded hands, compared to its average volume of 35,087,056. The stock has a market capitalization of $299.05 billion, a PE ratio of 30.05 and a beta of 1.18. Invesco QQQ has a one year low of $413.07 and a one year high of $540.81. The business has a 50-day moving average price of $507.38 and a two-hundred day moving average price of $505.32.

Invesco QQQ Cuts Dividend

The firm also recently announced 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 is Monday, March 24th.

Invesco QQQ Company 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.