Red Crane Wealth Management LLC Takes Position in Invesco QQQ (NASDAQ:QQQ)

Red Crane Wealth Management LLC bought a new position in Invesco QQQ (NASDAQ:QQQ) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,859 shares of the exchange traded fund’s stock, valued at approximately $2,484,000. Invesco QQQ comprises 2.4% of Red Crane Wealth Management LLC’s portfolio, making the stock its 16th largest holding.

Several other large investors have also added to or reduced their stakes in QQQ. SOA Wealth Advisors LLC. boosted its position in Invesco QQQ by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock worth $8,477,000 after purchasing an additional 46 shares during the last quarter. Pettinga Financial Advisors LLC lifted its stake in Invesco QQQ by 13.6% in the third quarter. Pettinga Financial Advisors LLC now owns 15,475 shares of the exchange traded fund’s stock valued at $7,553,000 after purchasing an additional 1,854 shares during the last quarter. Orrstown Financial Services Inc. bought a new position in Invesco QQQ during the third quarter valued at $3,016,000. Pallas Capital Advisors LLC increased its position in Invesco QQQ by 4.9% in the third quarter. Pallas Capital Advisors LLC now owns 14,944 shares of the exchange traded fund’s stock worth $7,357,000 after buying an additional 698 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its stake in shares of Invesco QQQ by 27.9% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 78,547 shares of the exchange traded fund’s stock valued at $38,337,000 after buying an additional 17,120 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $513.32 on Wednesday. The business’s fifty day moving average price is $522.57 and its 200-day moving average price is $502.54. 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 $326.50 billion, a PE ratio of 33.43 and a beta of 1.09.

Invesco QQQ Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

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.