Tradition Wealth Management LLC Buys 1,226 Shares of Invesco QQQ (NASDAQ:QQQ)

Tradition Wealth Management LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,165 shares of the exchange traded fund's stock after acquiring an additional 1,226 shares during the period. Invesco QQQ accounts for 1.5% of Tradition Wealth Management LLC's investment portfolio, making the stock its 17th biggest holding. Tradition Wealth Management LLC's holdings in Invesco QQQ were worth $16,955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Stephens Consulting LLC lifted its position in Invesco QQQ by 0.4% during the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock valued at $2,769,000 after acquiring an additional 19 shares during the period. Cardinal Point Capital Management ULC grew its stake in shares of Invesco QQQ by 0.5% in the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund's stock worth $1,995,000 after buying an additional 20 shares during the last quarter. Hoese & Co LLP increased its position in Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after buying an additional 20 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in Invesco QQQ by 1.9% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock valued at $559,000 after buying an additional 20 shares in the last quarter. Finally, RAM Investment Partners LLC boosted its holdings in Invesco QQQ by 1.7% in the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund's stock worth $597,000 after acquiring an additional 20 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 2.6 %

Shares of NASDAQ:QQQ traded up $11.73 on Thursday, hitting $466.29. 29,737,022 shares of the company traded hands, compared to its average volume of 36,544,279. The stock has a 50 day simple moving average of $477.15 and a 200-day simple moving average of $500.25. The company has a market cap of $298.38 billion, a PE ratio of 28.58 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 declared 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.

About Invesco QQQ

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.