Investment Partners Asset Management Inc. Buys 938 Shares of Invesco QQQ (NASDAQ:QQQ)

Investment Partners Asset Management Inc. increased its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 29.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,124 shares of the exchange traded fund’s stock after purchasing an additional 938 shares during the quarter. Invesco QQQ makes up 1.5% of Investment Partners Asset Management Inc.’s holdings, making the stock its 14th largest position. Investment Partners Asset Management Inc.’s holdings in Invesco QQQ were worth $1,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. HighMark Wealth Management LLC raised its holdings in Invesco QQQ by 5.2% during the fourth quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund’s stock worth $208,000 after purchasing an additional 20 shares in the last quarter. Providence First Trust Co grew its position in shares of Invesco QQQ by 3.0% in the 4th quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund’s stock valued at $346,000 after buying an additional 20 shares during the last quarter. Diversified Enterprises LLC raised its stake in Invesco QQQ by 0.4% during the 4th quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund’s stock worth $2,679,000 after acquiring an additional 20 shares in the last quarter. Prevail Innovative Wealth Advisors LLC raised its stake in Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund’s stock worth $247,000 after acquiring an additional 20 shares in the last quarter. Finally, Legacy Investment Solutions LLC lifted its position in Invesco QQQ by 8.2% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund’s stock valued at $138,000 after acquiring an additional 20 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $534.21 on Wednesday. The company has a fifty day moving average of $485.97 and a two-hundred day moving average of $502.25. The company has a market capitalization of $334.76 billion, a PE ratio of 32.66 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 announced a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were given a $0.7157 dividend. The ex-dividend date of this dividend 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.