Sawgrass Asset Management LLC Has $3.55 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Sawgrass Asset Management LLC grew its position in shares of Invesco QQQ (NASDAQ:QQQ) by 13.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,676 shares of the exchange traded fund’s stock after purchasing an additional 1,018 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Invesco QQQ were worth $3,553,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Red Tortoise LLC raised its stake in Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after acquiring an additional 74 shares during the period. Friedenthal Financial bought a new stake in Invesco QQQ in the 4th quarter valued at about $41,000. Bear Mountain Capital Inc. bought a new stake in Invesco QQQ in the 4th quarter valued at about $42,000. Core Wealth Advisors Inc. raised its stake in Invesco QQQ by 33.3% in the 3rd 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 period. Finally, Blume Capital Management Inc. increased its position in shares of Invesco QQQ by 104.0% during the third quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock valued at $48,000 after buying an additional 3,500 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 0.1 %

Shares of QQQ traded down $0.26 during midday trading on Wednesday, hitting $440.06. 24,685,057 shares of the company traded hands, compared to its average volume of 45,329,430. The stock has a 50-day moving average of $436.66 and a 200-day moving average of $414.00. Invesco QQQ has a one year low of $321.32 and a one year high of $449.34.

Invesco QQQ Announces Dividend

The business also recently declared 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 0.52%. The ex-dividend date of this dividend was Monday, March 18th.

About Invesco QQQ

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.