Stonebridge Financial Group LLC Buys New Stake in Invesco QQQ (NASDAQ:QQQ)

Stonebridge Financial Group LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 4,289 shares of the exchange traded fund’s stock, valued at approximately $2,193,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Hoese & Co LLP grew its position in Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after acquiring an additional 20 shares during the period. Legacy Bridge LLC boosted its stake in shares of Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares in the last quarter. BNP Paribas bought a new stake in shares of Invesco QQQ in the 3rd quarter worth about $62,000. Brooklyn Investment Group acquired a new stake in shares of Invesco QQQ during the 4th quarter worth about $69,000. Finally, Ritter Daniher Financial Advisory LLC DE lifted its holdings in Invesco QQQ by 75.9% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.2 %

Shares of Invesco QQQ stock opened at $529.25 on Tuesday. The firm’s 50-day moving average price is $521.26 and its two-hundred day moving average price is $495.90. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $539.15.

Invesco QQQ Dividend Announcement

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

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.