Tepp RIA LLC Purchases Shares of 24,125 Invesco QQQ (NASDAQ:QQQ)

Tepp RIA LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,125 shares of the exchange traded fund's stock, valued at approximately $12,333,000. Invesco QQQ accounts for approximately 18.3% of Tepp RIA LLC's portfolio, making the stock its 3rd biggest position.

Several other hedge funds have also bought and sold shares of the stock. PayPay Securities Corp lifted 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 purchasing an additional 36 shares in the last quarter. Roxbury Financial LLC purchased a new position in Invesco QQQ in the 4th quarter valued at $37,000. Hoese & Co LLP boosted its stake in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after buying an additional 20 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in Invesco QQQ in the 4th quarter valued at about $51,000. Finally, BNP Paribas purchased a new stake in shares of Invesco QQQ in the 3rd quarter valued at approximately $62,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 1.2 %

Invesco QQQ stock traded down $5.81 during mid-day trading on Monday, hitting $463.13. The company's stock had a trading volume of 25,671,017 shares, compared to its average volume of 36,907,844. Invesco QQQ has a 1 year low of $413.07 and a 1 year high of $540.81. The stock's fifty day moving average is $508.43 and its two-hundred day moving average is $505.35. The firm has a market capitalization of $291.89 billion, a PE ratio of 30.74 and a beta of 1.11.

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Invesco QQQ Cuts Dividend

The company also recently announced 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.

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.