Weitzel Financial Services Inc. Increases Position in Invesco QQQ (NASDAQ:QQQ)

Weitzel Financial Services Inc. increased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,022 shares of the exchange traded fund’s stock after acquiring an additional 894 shares during the quarter. Invesco QQQ makes up approximately 2.7% of Weitzel Financial Services Inc.’s holdings, making the stock its 12th biggest holding. Weitzel Financial Services Inc.’s holdings in Invesco QQQ were worth $5,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Invesco QQQ by 141.0% in the 3rd 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. Synergy Investment Management LLC purchased a new stake in Invesco QQQ during the fourth quarter valued at about $723,000. Grant Private Wealth Management Inc acquired a new stake in Invesco QQQ during the fourth quarter worth about $815,000. Tandem Investment Partners LLC purchased a new position in shares of Invesco QQQ in the 4th quarter worth about $4,623,000. Finally, Gemsstock Ltd. lifted its stake in shares of Invesco QQQ by 266.4% in the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock valued at $150,046,000 after purchasing an additional 213,400 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $522.01 on Tuesday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81. The firm has a 50 day moving average price of $471.81 and a 200 day moving average price of $500.39. The company has a market cap of $327.12 billion, a PE ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were given a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

Invesco QQQ 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.