Scotia Capital Inc. Invests $43.50 Million in Invesco QQQ (NASDAQ:QQQ)

Scotia Capital Inc. acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 85,090 shares of the exchange traded fund's stock, valued at approximately $43,502,000.

A number of other large investors have also made changes to their positions in QQQ. Proficio Capital Partners LLC grew 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 acquiring an additional 11,478,188 shares during the period. Toronto Dominion Bank lifted its position in Invesco QQQ by 13.0% during the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund's stock valued at $2,080,052,000 after buying an additional 488,815 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after buying an additional 4,105,389 shares during the period. PNC Financial Services Group Inc. increased its position 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 worth $1,593,354,000 after acquiring an additional 27,115 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of Invesco QQQ by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after acquiring an additional 52,235 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Invesco QQQ stock traded up $1.05 during trading on Monday, reaching $455.45. 21,403,170 shares of the company's stock were exchanged, compared to its average volume of 36,739,415. The company's 50-day moving average is $490.33 and its two-hundred day moving average is $502.54. The firm has a market cap of $284.61 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed 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.