Senator Investment Group LP Purchases Shares of 1,330,000 Invesco QQQ (NASDAQ:QQQ)

Senator Investment Group LP acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,330,000 shares of the exchange traded fund's stock, valued at approximately $679,936,000. Invesco QQQ accounts for approximately 20.0% of Senator Investment Group LP's holdings, making the stock its largest position. Senator Investment Group LP owned about 0.21% of Invesco QQQ as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PayPay Securities Corp increased its holdings in Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after buying an additional 36 shares during the period. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ in the 4th quarter valued at $35,000. Roxbury Financial LLC purchased a new stake in shares of Invesco QQQ during the 4th quarter worth $37,000. Hoese & Co LLP boosted its position in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after purchasing an additional 20 shares in the last quarter. Finally, Midwest Capital Advisors LLC purchased a new position in Invesco QQQ in the fourth quarter valued at about $51,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ stock traded up $12.79 during mid-day trading on Thursday, hitting $467.35. 45,428,697 shares of the stock traded hands, compared to its average volume of 36,604,187. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The stock has a market cap of $299.06 billion, a P/E ratio of 28.58 and a beta of 1.11. The stock's fifty day moving average is $477.15 and its two-hundred day moving average is $500.25.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be given 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.