Steinberganna Wealth Management Has $22.53 Million Stake in Invesco QQQ $QQQ

Steinberganna Wealth Management boosted its stake in Invesco QQQ (NASDAQ:QQQFree Report) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 36,681 shares of the exchange traded fund’s stock after purchasing an additional 1,613 shares during the quarter. Invesco QQQ makes up 10.6% of Steinberganna Wealth Management’s portfolio, making the stock its 2nd biggest holding. Steinberganna Wealth Management’s holdings in Invesco QQQ were worth $22,534,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sovran Advisors LLC grew its position in shares of Invesco QQQ by 8.0% in the 4th quarter. Sovran Advisors LLC now owns 18,032 shares of the exchange traded fund’s stock worth $11,212,000 after buying an additional 1,340 shares during the period. Fifth Third Securities Inc. lifted its position in Invesco QQQ by 2.6% during the 3rd quarter. Fifth Third Securities Inc. now owns 109,863 shares of the exchange traded fund’s stock valued at $65,959,000 after acquiring an additional 2,822 shares during the period. SK Wealth Management LLC bought a new stake in Invesco QQQ during the third quarter worth about $803,000. Corepath Wealth Partners LLC boosted its stake in Invesco QQQ by 19.7% during the fourth quarter. Corepath Wealth Partners LLC now owns 8,723 shares of the exchange traded fund’s stock worth $5,471,000 after acquiring an additional 1,436 shares in the last quarter. Finally, Great Point Wealth Advisors LLC purchased a new stake in Invesco QQQ in the third quarter worth about $507,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Invesco QQQ

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Invesco QQQ Stock Up 1.8%

Shares of NASDAQ QQQ opened at $628.38 on Wednesday. Invesco QQQ has a fifty-two week low of $427.93 and a fifty-two week high of $637.01. The company has a 50 day simple moving average of $599.41 and a two-hundred day simple moving average of $609.92.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were paid a $0.7328 dividend. The ex-dividend date was Monday, March 23rd. This represents a $2.93 annualized dividend and a dividend yield of 0.5%.

Invesco QQQ Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

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