Maridea Wealth Management LLC Makes New $19.52 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Maridea Wealth Management LLC bought a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 38,189 shares of the exchange traded fund's stock, valued at approximately $19,523,000. Invesco QQQ makes up approximately 6.3% of Maridea Wealth Management LLC's portfolio, making the stock its 3rd largest holding.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC lifted its position in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after buying an additional 11,478,188 shares during the period. Toronto Dominion Bank increased its stake in shares of Invesco QQQ by 13.0% in the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund's stock worth $2,080,052,000 after acquiring an additional 488,815 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Invesco QQQ by 47,853.9% during the 4th 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 acquiring an additional 4,105,389 shares during the period. PNC Financial Services Group Inc. boosted its stake in Invesco QQQ by 0.9% during 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. Finally, Commonwealth Equity Services LLC grew its holdings in Invesco QQQ by 2.2% in 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 purchasing an additional 52,235 shares during the period. Institutional investors own 44.58% of the company's stock.

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Invesco QQQ Stock Down 0.2 %

Shares of NASDAQ QQQ traded down $0.98 on Monday, reaching $467.96. 39,497,193 shares of the company's stock traded hands, compared to its average volume of 35,097,340. The business's 50 day simple moving average is $508.43 and its two-hundred day simple moving average is $505.35. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $540.81. The company has a market cap of $294.93 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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