Spreng Capital Management Inc. Purchases Shares of 1,263 Invesco QQQ (NASDAQ:QQQ)

Spreng Capital Management Inc. purchased a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,263 shares of the exchange traded fund's stock, valued at approximately $646,000.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Invesco QQQ by 159.6% during 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 in the last quarter. Principal Financial Group Inc. raised its position in Invesco QQQ by 141.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock worth $9,468,000 after buying an additional 11,351 shares during the last quarter. NRI Wealth Management LC bought a new position in Invesco QQQ during the 4th quarter valued at about $28,729,000. Garden State Investment Advisory Services LLC boosted its holdings in shares of 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 valued at $15,169,000 after acquiring an additional 3,581 shares during the last quarter. Finally, Silverleafe Capital Partners LLC grew its stake in shares of Invesco QQQ by 16.8% in the fourth 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 hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock traded up $8.22 during midday trading on Friday, reaching $454.40. 52,407,577 shares of the company traded hands, compared to its average volume of 36,790,843. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The business has a 50 day moving average of $490.33 and a two-hundred day moving average of $502.54. The firm has a market capitalization of $283.95 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Invesco QQQ 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.