Smart Money Group LLC Increases Stake in Invesco QQQ (NASDAQ:QQQ)

Smart Money Group LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 23.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,496 shares of the exchange traded fund’s stock after buying an additional 9,375 shares during the quarter. Invesco QQQ makes up approximately 8.8% of Smart Money Group LLC’s portfolio, making the stock its 3rd biggest position. Smart Money Group LLC’s holdings in Invesco QQQ were worth $20,270,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of QQQ. Red Tortoise LLC lifted its position 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 acquiring an additional 74 shares in the last quarter. Friedenthal Financial bought a new stake in shares of Invesco QQQ in the fourth quarter worth about $41,000. Bear Mountain Capital Inc. purchased a new position in Invesco QQQ during the 4th quarter valued at $42,000. Core Wealth Advisors Inc. grew its holdings in shares of Invesco QQQ by 33.3% during the 3rd quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after acquiring an additional 30 shares during the period. Finally, Blume Capital Management Inc. grew its holdings in Invesco QQQ by 104.0% in the third quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock worth $48,000 after purchasing an additional 3,500 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ traded up $5.38 during midday trading on Thursday, hitting $426.90. 34,688,339 shares of the company traded hands, compared to its average volume of 45,809,816. Invesco QQQ has a 52 week low of $315.11 and a 52 week high of $449.34. The company’s 50-day moving average is $436.78 and its 200 day moving average is $411.61.

Invesco QQQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.5735 per share. This represents a $2.29 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, March 18th.

Invesco QQQ 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.