Weitzel Financial Services Inc. Grows Stock Position in Invesco QQQ (NASDAQ:QQQ)

Weitzel Financial Services Inc. grew its position in shares of Invesco QQQ (NASDAQ:QQQ) by 8.8% during the fourth quarter, HoldingsChannel reports. The firm owned 11,022 shares of the exchange traded fund’s stock after buying an additional 894 shares during the period. Invesco QQQ accounts for approximately 2.7% of Weitzel Financial Services Inc.’s holdings, making the stock its 12th largest holding. Weitzel Financial Services Inc.’s holdings in Invesco QQQ were worth $5,681,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC grew its position in shares of Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after buying an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock valued at $2,300,993,000 after acquiring an additional 756,990 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after acquiring an additional 4,105,389 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Invesco QQQ by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock worth $1,593,354,000 after purchasing an additional 27,115 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of Invesco QQQ by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund’s stock valued at $1,239,886,000 after purchasing an additional 52,235 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $522.01 on Tuesday. The stock has a market capitalization of $327.12 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The company’s 50-day simple moving average is $471.81 and its 200-day simple moving average is $500.39.

Invesco QQQ Cuts Dividend

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

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.