Lafayette Investments Inc. Buys Shares of 593 Invesco QQQ (NASDAQ:QQQ)

Lafayette Investments Inc. acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 593 shares of the exchange traded fund's stock, valued at approximately $303,000.

Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC grew its position in 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 during the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock valued at $2,103,184,000 after buying an additional 4,105,389 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of 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 valued at $1,593,354,000 after buying an additional 27,115 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Invesco QQQ by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock worth $1,239,886,000 after buying an additional 52,235 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp increased its position in 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 valued at $940,676,000 after acquiring an additional 13,772 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 0.1 %

Shares of QQQ traded down $0.36 during mid-day trading on Friday, hitting $443.82. 44,745,116 shares of the company traded hands, compared to its average volume of 36,627,789. The stock has a market capitalization of $284.56 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11. The business has a 50-day moving average of $482.54 and a 200 day moving average of $501.06. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date 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.