Western Wealth Management LLC acquired a new position in shares of Invesco QQQ Trust (NASDAQ:QQQ) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 63,988 shares of the exchange traded fund’s stock, valued at approximately $9,867,000. Invesco QQQ Trust makes up approximately 2.7% of Western Wealth Management LLC’s investment portfolio, making the stock its 6th largest position.
A number of other institutional investors have also recently made changes to their positions in QQQ. Sontag Advisory LLC bought a new position in shares of Invesco QQQ Trust in the fourth quarter worth about $46,000. CX Institutional lifted its holdings in shares of Invesco QQQ Trust by 1,811.1% in the fourth quarter. CX Institutional now owns 344 shares of the exchange traded fund’s stock worth $53,000 after acquiring an additional 326 shares during the last quarter. Capital Financial Planning LLC bought a new position in shares of Invesco QQQ Trust in the fourth quarter worth about $55,000. LS Investment Advisors LLC lifted its holdings in shares of Invesco QQQ Trust by 25.0% in the fourth quarter. LS Investment Advisors LLC now owns 375 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 75 shares during the last quarter. Finally, Delta Asset Management LLC TN lifted its holdings in shares of Invesco QQQ Trust by 149.1% in the fourth quarter. Delta Asset Management LLC TN now owns 436 shares of the exchange traded fund’s stock worth $67,000 after acquiring an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 47.68% of the company’s stock.
Shares of QQQ stock traded down $0.83 on Monday, reaching $177.73. The company had a trading volume of 1,752,949 shares, compared to its average volume of 35,224,104. Invesco QQQ Trust has a one year low of $143.46 and a one year high of $187.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be issued a $0.3242 dividend. The ex-dividend date of this dividend is Monday, March 18th. This represents a $1.30 dividend on an annualized basis and a yield of 0.73%.
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About Invesco QQQ Trust
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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Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQ).
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