Wealth Effects LLC Has $1.38 Million Position in Invesco QQQ (NASDAQ:QQQ)

Wealth Effects LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,705 shares of the exchange traded fund’s stock after acquiring an additional 80 shares during the period. Wealth Effects LLC’s holdings in Invesco QQQ were worth $1,383,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of QQQ. AQR Capital Management LLC lifted its position in shares of Invesco QQQ by 332.0% in the second quarter. AQR Capital Management LLC now owns 12,041 shares of the exchange traded fund’s stock worth $5,769,000 after buying an additional 9,254 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Invesco QQQ by 28.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,490 shares of the exchange traded fund’s stock valued at $33,772,000 after acquiring an additional 15,648 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new stake in Invesco QQQ in the 2nd quarter worth approximately $368,000. Ted Buchan & Co bought a new stake in Invesco QQQ during the second quarter worth approximately $653,000. Finally, Granite Bay Wealth Management LLC boosted its position in Invesco QQQ by 6,215.5% during the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after purchasing an additional 894,532 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $521.88 on Wednesday. The company’s 50 day moving average is $518.14 and its 200-day moving average is $493.37. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $539.15.

Invesco QQQ Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

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.