Firestone Capital Management Raises Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Firestone Capital Management increased its stake in Invesco QQQ (NASDAQ:QQQ) by 16.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,088 shares of the exchange traded fund’s stock after acquiring an additional 150 shares during the period. Firestone Capital Management’s holdings in Invesco QQQ were worth $556,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. PayPay Securities Corp grew its position in shares of Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ in the 4th quarter worth about $36,000. Roxbury Financial LLC acquired a new position in Invesco QQQ in the 4th quarter valued at $37,000. Finally, Hoese & Co LLP boosted its stake in Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $472.41 on Tuesday. The stock’s 50 day simple moving average is $473.06 and its 200-day simple moving average is $499.98. The stock has a market cap of $299.34 billion, a P/E ratio of 28.58 and a beta of 1.11. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81.

Invesco QQQ Cuts Dividend

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

About Invesco QQQ

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.