Red Wave Investments LLC Has $19.34 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Red Wave Investments LLC decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 2.3% during the fourth quarter, HoldingsChannel reports. The fund owned 37,830 shares of the exchange traded fund’s stock after selling 875 shares during the quarter. Invesco QQQ comprises about 6.8% of Red Wave Investments LLC’s investment portfolio, making the stock its 3rd biggest holding. Red Wave Investments LLC’s holdings in Invesco QQQ were worth $19,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Stephens Consulting LLC increased its stake in Invesco QQQ by 0.4% in the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock worth $2,769,000 after buying an additional 19 shares in the last quarter. Northeast Investment Management boosted its stake in shares of Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after acquiring an additional 20 shares during the period. Planning Capital Management Corp grew its position in shares of Invesco QQQ by 7.1% during the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after purchasing an additional 20 shares in the last quarter. Cardinal Point Capital Management ULC raised its stake in Invesco QQQ by 0.5% during the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock valued at $1,995,000 after purchasing an additional 20 shares during the period. Finally, Hoese & Co LLP raised its stake in Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ stock opened at $526.08 on Friday. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $540.81. The business has a 50 day simple moving average of $523.39 and a two-hundred day simple moving average of $500.70.

Invesco QQQ Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

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.