Summit X LLC Raises Stake in Invesco QQQ (NASDAQ:QQQ)

Summit X LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQFree Report) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,983 shares of the exchange traded fund’s stock after buying an additional 24 shares during the quarter. Invesco QQQ makes up 0.7% of Summit X LLC’s investment portfolio, making the stock its 27th largest position. Summit X LLC’s holdings in Invesco QQQ were worth $2,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Red Tortoise LLC grew its holdings in shares of Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after buying an additional 74 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $41,000. Robinson Capital Management LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter worth approximately $40,000. Bear Mountain Capital Inc. purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $42,000. Finally, Core Wealth Advisors Inc. grew its holdings in Invesco QQQ by 33.3% in the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock valued at $43,000 after purchasing an additional 30 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock traded down $0.22 during trading on Friday, reaching $451.76. The company had a trading volume of 35,803,719 shares, compared to its average volume of 39,883,960. Invesco QQQ has a 12-month low of $329.56 and a 12-month high of $454.69. The stock’s 50 day moving average price is $437.57 and its two-hundred day moving average price is $418.90.

Invesco QQQ Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th were issued a $0.5735 dividend. The ex-dividend date was Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a yield of 0.51%.

Invesco QQQ Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

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