Maridea Wealth Management LLC Buys Shares of 38,189 Invesco QQQ (NASDAQ:QQQ)

Maridea Wealth Management LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 38,189 shares of the exchange traded fund’s stock, valued at approximately $19,523,000. Invesco QQQ makes up 6.3% of Maridea Wealth Management LLC’s portfolio, making the stock its 3rd biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SOA Wealth Advisors LLC. grew its holdings in shares of Invesco QQQ by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock valued at $8,477,000 after acquiring an additional 46 shares in the last quarter. FMR LLC grew its stake in Invesco QQQ by 1.7% in the third quarter. FMR LLC now owns 778,065 shares of the exchange traded fund’s stock valued at $379,751,000 after purchasing an additional 13,338 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Invesco QQQ by 13.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 29,459 shares of the exchange traded fund’s stock worth $14,378,000 after purchasing an additional 3,553 shares during the last quarter. Fiduciary Trust Co raised its stake in shares of Invesco QQQ by 4.4% during the 3rd quarter. Fiduciary Trust Co now owns 5,508 shares of the exchange traded fund’s stock worth $2,688,000 after purchasing an additional 230 shares in the last quarter. Finally, Financial Counselors Inc. boosted its holdings in shares of Invesco QQQ by 4.1% in the 3rd quarter. Financial Counselors Inc. now owns 10,300 shares of the exchange traded fund’s stock valued at $5,027,000 after buying an additional 410 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 2.6 %

Shares of QQQ opened at $468.94 on Friday. The company’s fifty day simple moving average is $508.43 and its 200 day simple moving average is $504.77. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $540.81. The company has a market cap of $295.55 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date is 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.