OLD Point Trust & Financial Services N A Acquires New Shares in Invesco QQQ (NASDAQ:QQQ)

OLD Point Trust & Financial Services N A bought a new position in Invesco QQQ (NASDAQ:QQQ) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,382 shares of the exchange traded fund’s stock, valued at approximately $1,218,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QQQ. Symmetry Partners LLC bought a new position in shares of Invesco QQQ during the 4th quarter valued at $753,000. Berkeley Capital Partners LLC acquired a new position in Invesco QQQ during the fourth quarter worth $10,069,000. Industrial Alliance Investment Management Inc. raised its holdings in Invesco QQQ by 8.5% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 148,102 shares of the exchange traded fund’s stock valued at $75,714,000 after buying an additional 11,637 shares in the last quarter. TAP Consulting LLC lifted its position in shares of Invesco QQQ by 12.0% in the fourth quarter. TAP Consulting LLC now owns 29,919 shares of the exchange traded fund’s stock worth $15,296,000 after buying an additional 3,207 shares during the last quarter. Finally, Sandy Spring Bank boosted its stake in shares of Invesco QQQ by 3.1% during the 4th quarter. Sandy Spring Bank now owns 12,620 shares of the exchange traded fund’s stock worth $6,452,000 after acquiring an additional 379 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $480.89 on Thursday. The business’s 50-day simple moving average is $512.55 and its 200-day simple moving average is $503.99. Invesco QQQ has a 52 week low of $413.07 and a 52 week high of $540.81. The firm has a market cap of $303.08 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

Invesco QQQ Dividend Announcement

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