Navellier & Associates Inc. Invests $575,000 in Invesco QQQ (NASDAQ:QQQ)

Navellier & Associates Inc. bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,124 shares of the exchange traded fund’s stock, valued at approximately $575,000.

Several other institutional investors also recently modified their holdings of the stock. Stephens Consulting LLC grew its position in shares of Invesco QQQ by 0.4% during the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock worth $2,769,000 after buying an additional 19 shares during the period. Northeast Investment Management grew its position in shares of Invesco QQQ by 0.6% in the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after purchasing an additional 20 shares during the period. Planning Capital Management Corp grew its position in shares of Invesco QQQ by 7.1% in the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after purchasing an additional 20 shares during the period. Cardinal Point Capital Management ULC grew its position in shares of Invesco QQQ by 0.5% in the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock valued at $1,995,000 after purchasing an additional 20 shares during the period. Finally, Hoese & Co LLP grew its position in shares of Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 2.1 %

Shares of QQQ opened at $526.08 on Friday. The stock has a 50 day simple moving average of $523.39 and a 200 day simple moving average of $501.12. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $540.81.

Invesco QQQ Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid 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.