Summit Financial LLC increased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,607 shares of the exchange traded fund's stock after purchasing an additional 3,723 shares during the quarter. Invesco QQQ accounts for 0.7% of Summit Financial LLC's investment portfolio, making the stock its 22nd biggest position. Summit Financial LLC's holdings in Invesco QQQ were worth $19,226,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in QQQ. Alliancebernstein L.P. grew its holdings in Invesco QQQ by 1.9% in the 4th quarter. Alliancebernstein L.P. now owns 91,693 shares of the exchange traded fund's stock worth $46,876,000 after acquiring an additional 1,686 shares during the last quarter. D L Carlson Investment Group Inc. grew its stake in shares of Invesco QQQ by 4.7% in the fourth quarter. D L Carlson Investment Group Inc. now owns 1,290 shares of the exchange traded fund's stock worth $659,000 after purchasing an additional 58 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in shares of Invesco QQQ by 3.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 21,561 shares of the exchange traded fund's stock worth $11,050,000 after purchasing an additional 649 shares during the last quarter. Prevail Innovative Wealth Advisors LLC increased its holdings in Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock valued at $247,000 after purchasing an additional 20 shares during the period. Finally, Walled Lake Planning & Wealth Management LLC raised its position in Invesco QQQ by 6.0% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 658 shares of the exchange traded fund's stock valued at $336,000 after purchasing an additional 37 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.
Invesco QQQ Trading Down 4.4 %
Shares of QQQ stock traded down $21.02 during trading hours on Thursday, reaching $455.13. The company's stock had a trading volume of 42,384,253 shares, compared to its average volume of 37,721,109. Invesco QQQ has a one year low of $413.07 and a one year high of $540.81. The stock has a market capitalization of $288.71 billion, a P/E ratio of 30.05 and a beta of 1.18. The firm's fifty day simple moving average is $505.23 and its 200 day simple moving average is $505.09.
Invesco QQQ Cuts Dividend
The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be issued a $0.7157 dividend. The ex-dividend date of this dividend is Monday, March 24th.
Invesco QQQ Profile
(
Free Report)
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.
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