Redhawk Wealth Advisors Inc. Buys 1,063 Shares of Invesco QQQ (NASDAQ:QQQ)

Redhawk Wealth Advisors Inc. grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 10.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,416 shares of the exchange traded fund’s stock after buying an additional 1,063 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Invesco QQQ were worth $5,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilkins Miller Wealth Management LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth approximately $1,018,000. Synergy Investment Management LLC bought a new position in shares of Invesco QQQ in the 4th quarter worth $723,000. Grant Private Wealth Management Inc bought a new position in shares of Invesco QQQ in the 4th quarter worth $815,000. Tandem Investment Partners LLC bought a new position in Invesco QQQ in the fourth quarter valued at $4,623,000. Finally, Gemsstock Ltd. increased its stake in Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock valued at $150,046,000 after acquiring an additional 213,400 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.7%

QQQ opened at $534.21 on Wednesday. The stock has a market cap of $334.76 billion, a PE ratio of 32.66 and a beta of 1.11. The business’s fifty day simple moving average is $485.97 and its 200 day simple moving average is $502.25. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued a dividend of $0.7157 per share. 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.