West Tower Group LLC Buys 505 Shares of Invesco QQQ (NASDAQ:QQQ)

West Tower Group LLC grew its stake in Invesco QQQ (NASDAQ:QQQ) by 101.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,005 shares of the exchange traded fund’s stock after acquiring an additional 505 shares during the period. West Tower Group LLC’s holdings in Invesco QQQ were worth $412,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in QQQ. Red Tortoise LLC lifted its position in shares of Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares during the period. Robinson Capital Management LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $40,000. Friedenthal Financial purchased a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $41,000. Bear Mountain Capital Inc. purchased a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $42,000. Finally, Core Wealth Advisors Inc. lifted its position in Invesco QQQ by 33.3% during the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock valued at $43,000 after acquiring an additional 30 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 1.5 %

NASDAQ:QQQ traded up $6.55 during midday trading on Friday, reaching $431.00. 41,874,907 shares of the stock traded hands, compared to its average volume of 47,550,872. Invesco QQQ has a 12-month low of $315.05 and a 12-month high of $449.34. The business has a 50-day moving average of $436.88 and a two-hundred day moving average of $410.68.

Invesco QQQ Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a yield of 0.53%.

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.