Selective Wealth Management Inc. Grows Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Selective Wealth Management Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,814 shares of the exchange traded fund’s stock after acquiring an additional 23 shares during the period. Invesco QQQ makes up 0.7% of Selective Wealth Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Selective Wealth Management Inc.’s holdings in Invesco QQQ were worth $1,733,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its position in Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after purchasing an additional 11,478,188 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock valued at $2,300,993,000 after buying an additional 756,990 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock worth $1,593,354,000 after acquiring an additional 27,115 shares during the period. Commonwealth Equity Services LLC raised its position in Invesco QQQ by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund’s stock worth $1,239,886,000 after acquiring an additional 52,235 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Invesco QQQ by 34.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund’s stock worth $1,124,614,000 after purchasing an additional 568,120 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 1.0%

QQQ stock opened at $529.92 on Monday. The company’s 50-day moving average price is $483.20 and its 200 day moving average price is $501.85. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The company has a market cap of $332.07 billion, a P/E ratio of 32.66 and a beta of 1.11.

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 of this dividend was 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.