Richmond Brothers Inc. Lowers Position in Invesco QQQ (NASDAQ:QQQ)

Richmond Brothers Inc. trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,312 shares of the exchange traded fund’s stock after selling 595 shares during the period. Invesco QQQ comprises approximately 25.0% of Richmond Brothers Inc.’s investment portfolio, making the stock its largest holding. Richmond Brothers Inc.’s holdings in Invesco QQQ were worth $39,013,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GM Advisory Group LLC increased its holdings in Invesco QQQ by 12.5% in the 4th quarter. GM Advisory Group LLC now owns 2,228 shares of the exchange traded fund’s stock worth $1,139,000 after acquiring an additional 247 shares during the last quarter. North Forty Two & Co. purchased a new stake in Invesco QQQ in the 4th quarter worth about $229,000. FreeGulliver LLC increased its holdings in Invesco QQQ by 8.5% in the 4th quarter. FreeGulliver LLC now owns 2,623 shares of the exchange traded fund’s stock worth $1,341,000 after acquiring an additional 205 shares during the last quarter. VSM Wealth Advisory LLC purchased a new stake in Invesco QQQ in the 4th quarter worth about $123,000. Finally, Brooklyn FI LLC increased its holdings in Invesco QQQ by 6,359.5% in the 4th quarter. Brooklyn FI LLC now owns 45,281 shares of the exchange traded fund’s stock worth $22,892,000 after acquiring an additional 44,580 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ opened at $474.54 on Wednesday. The business has a 50-day moving average of $513.24 and a 200 day moving average of $504.15. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $540.81. The firm has a market cap of $299.08 billion, a P/E ratio of 30.74 and a beta of 1.11.

Invesco QQQ Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued 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.