Lakeridge Wealth Management LLC Increases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Lakeridge Wealth Management LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 860 shares of the exchange traded fund’s stock after purchasing an additional 25 shares during the quarter. Lakeridge Wealth Management LLC’s holdings in Invesco QQQ were worth $403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Group Ltd. lifted its stake in shares of Invesco QQQ by 6.9% during the 4th quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund’s stock worth $810,000 after acquiring an additional 102 shares during the last quarter. Tallon Kerry Patrick bought a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $4,904,000. Capital & Planning LLC lifted its stake in shares of Invesco QQQ by 5.0% during the 4th quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund’s stock worth $2,477,000 after acquiring an additional 229 shares during the last quarter. Naviter Wealth LLC lifted its stake in shares of Invesco QQQ by 8.8% during the 4th quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund’s stock worth $675,000 after acquiring an additional 107 shares during the last quarter. Finally, Eagle Capital Management LLC lifted its stake in shares of Invesco QQQ by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund’s stock worth $31,025,000 after acquiring an additional 185 shares during 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 $526.96 on Friday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The firm has a market capitalization of $330.22 billion, a P/E ratio of 32.66 and a beta of 1.11. The stock has a 50 day moving average price of $492.58 and a 200 day moving average price of $502.76.

Invesco QQQ Cuts Dividend

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