Kovitz Investment Group Partners LLC Boosts Position in Invesco QQQ (NASDAQ:QQQ)

Kovitz Investment Group Partners LLC grew its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 31.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,304 shares of the exchange traded fund's stock after buying an additional 15,794 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Invesco QQQ were worth $33,386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of QQQ. GAMMA Investing LLC increased its position in shares of Invesco QQQ by 159.6% during the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund's stock worth $1,712,000 after acquiring an additional 2,059 shares during the period. Principal Financial Group Inc. grew its stake in Invesco QQQ by 141.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock worth $9,468,000 after purchasing an additional 11,351 shares in the last quarter. NRI Wealth Management LC purchased a new stake in Invesco QQQ during the 4th quarter worth about $28,729,000. Garden State Investment Advisory Services LLC raised its position in Invesco QQQ by 13.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund's stock valued at $15,169,000 after purchasing an additional 3,581 shares in the last quarter. Finally, Silverleafe Capital Partners LLC boosted its stake in shares of Invesco QQQ by 16.8% in the 4th quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund's stock valued at $23,165,000 after buying an additional 6,518 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock traded up $5.21 on Friday, reaching $472.56. 38,606,996 shares of the company were exchanged, compared to its average volume of 36,461,222. The stock's 50 day moving average price is $474.40 and its 200-day moving average price is $500.13. The company has a market cap of $299.44 billion, a P/E ratio of 28.58 and a beta of 1.11. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a $0.7157 dividend. 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.