Cornerstone Financial Group LLC NE Takes Position in Invesco QQQ (NASDAQ:QQQ)

Cornerstone Financial Group LLC NE bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,135 shares of the exchange traded fund’s stock, valued at approximately $1,092,000. Invesco QQQ comprises 1.1% of Cornerstone Financial Group LLC NE’s investment portfolio, making the stock its 29th biggest holding.

Several other hedge funds also recently added to or reduced their stakes in QQQ. Crestline Management LP raised its stake in Invesco QQQ by 9,736.1% during the 4th quarter. Crestline Management LP now owns 150,000 shares of the exchange traded fund’s stock worth $76,684,000 after acquiring an additional 148,475 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Invesco QQQ by 4.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 1,328,813 shares of the exchange traded fund’s stock valued at $679,329,000 after purchasing an additional 50,738 shares during the last quarter. Capital Advantage Inc. acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at about $840,000. Blue Capital Inc. purchased a new position in Invesco QQQ during the 4th quarter worth approximately $2,075,000. Finally, Bramshill Investments LLC increased its position in Invesco QQQ by 49.7% during the fourth quarter. Bramshill Investments LLC now owns 7,582 shares of the exchange traded fund’s stock worth $3,876,000 after buying an additional 2,518 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.9 %

Shares of QQQ opened at $481.41 on Wednesday. The company’s 50 day simple moving average is $468.61 and its 200-day simple moving average is $499.45. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The firm has a market cap of $301.68 billion, a PE ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

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.