Investment Partners Asset Management Inc. Grows Holdings in Invesco QQQ (NASDAQ:QQQ)

Investment Partners Asset Management Inc. increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 29.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,124 shares of the exchange traded fund’s stock after purchasing an additional 938 shares during the period. Invesco QQQ accounts for 1.5% of Investment Partners Asset Management Inc.’s investment portfolio, making the stock its 14th largest holding. Investment Partners Asset Management Inc.’s holdings in Invesco QQQ were worth $1,934,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of QQQ. HighMark Wealth Management LLC grew its stake in shares of Invesco QQQ by 5.2% during the 4th quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund’s stock worth $208,000 after purchasing an additional 20 shares during the period. Providence First Trust Co boosted its holdings in Invesco QQQ by 3.0% during the fourth quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund’s stock worth $346,000 after buying an additional 20 shares in the last quarter. Diversified Enterprises LLC grew its position in Invesco QQQ by 0.4% during the fourth quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund’s stock worth $2,679,000 after buying an additional 20 shares during the period. Prevail Innovative Wealth Advisors LLC grew its position in Invesco QQQ by 4.3% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund’s stock worth $247,000 after buying an additional 20 shares during the period. Finally, Legacy Investment Solutions LLC increased its holdings in Invesco QQQ by 8.2% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund’s stock valued at $138,000 after buying an additional 20 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.7%

QQQ stock opened at $534.21 on Wednesday. The firm has a 50 day moving average of $485.97 and a 200-day moving average of $502.25. The company has a market cap of $334.76 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were paid a $0.7157 dividend. 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.