American Trust Boosts Holdings in Invesco QQQ (NASDAQ:QQQ)

American Trust boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 1,669.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 45,198 shares of the exchange traded fund’s stock after purchasing an additional 42,643 shares during the period. Invesco QQQ makes up 1.8% of American Trust’s portfolio, making the stock its 14th largest position. American Trust’s holdings in Invesco QQQ were worth $23,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC grew its stake in shares of Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after acquiring an additional 11,478,188 shares during the period. Strategic Financial Concepts LLC grew its stake in shares of Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after acquiring an additional 4,105,389 shares during the period. NWI Management LP grew its stake in shares of Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after acquiring an additional 3,648,000 shares during the period. Senator Investment Group LP bought a new position in shares of Invesco QQQ during the 4th quarter worth $679,936,000. Finally, Artemis Wealth Advisors LLC grew its stake in shares of Invesco QQQ by 1,337.4% during the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock worth $423,470,000 after acquiring an additional 895,277 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $509.24 on Friday. The company has a market capitalization of $319.12 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The stock has a fifty day moving average of $474.84 and a 200-day moving average of $500.89.

Invesco QQQ Cuts Dividend

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