Invesco QQQ (NASDAQ:QQQ) Shares Bought by Sanctuary Wealth Management L.L.C.

Sanctuary Wealth Management L.L.C. raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 90.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,317 shares of the exchange traded fund's stock after purchasing an additional 7,747 shares during the quarter. Invesco QQQ accounts for approximately 5.5% of Sanctuary Wealth Management L.L.C.'s portfolio, making the stock its 7th largest holding. Sanctuary Wealth Management L.L.C.'s holdings in Invesco QQQ were worth $8,342,000 at the end of the most recent quarter.

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

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Invesco QQQ Stock Up 1.0 %

Shares of NASDAQ QQQ traded up $4.96 during trading on Wednesday, reaching $477.66. 23,603,241 shares of the stock were exchanged, compared to its average volume of 35,107,726. The company has a market capitalization of $303.00 billion, a price-to-earnings ratio of 30.05 and a beta of 1.18. The business's 50-day moving average price is $506.34 and its 200 day moving average price is $505.30. Invesco QQQ has a twelve month low of $413.07 and a twelve month 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.