DKM Wealth Management Inc. Invests $3.77 Million in Invesco QQQ (NASDAQ:QQQ)

DKM Wealth Management Inc. purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,374 shares of the exchange traded fund’s stock, valued at approximately $3,770,000. Invesco QQQ accounts for about 3.6% of DKM Wealth Management Inc.’s holdings, making the stock its 9th largest position.

Several other hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of Invesco QQQ by 159.6% in the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock worth $1,712,000 after acquiring an additional 2,059 shares during the last quarter. Principal Financial Group Inc. boosted its position in Invesco QQQ by 141.0% during the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after purchasing an additional 11,351 shares during the last quarter. NRI Wealth Management LC purchased a new position in Invesco QQQ in the fourth quarter valued at about $28,729,000. Garden State Investment Advisory Services LLC increased its position in Invesco QQQ by 13.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock worth $15,169,000 after purchasing an additional 3,581 shares during the last quarter. Finally, Silverleafe Capital Partners LLC raised its stake in shares of Invesco QQQ by 16.8% during the 4th quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund’s stock worth $23,165,000 after purchasing an additional 6,518 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $472.70 on Wednesday. The stock has a 50-day simple moving average of $506.34 and a 200-day simple moving average of $505.30. 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 $299.86 billion, a price-to-earnings ratio of 30.05 and a beta of 1.18.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

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.