Red Tortoise LLC Boosts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Red Tortoise LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 370.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 94 shares of the exchange traded fund’s stock after purchasing an additional 74 shares during the quarter. Red Tortoise LLC’s holdings in Invesco QQQ were worth $39,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QQQ. Ironwood Wealth Management LLC. boosted its stake in Invesco QQQ by 7.4% during the first quarter. Ironwood Wealth Management LLC. now owns 5,505 shares of the exchange traded fund’s stock worth $1,996,000 after buying an additional 381 shares during the period. Axiom Financial Strategies LLC boosted its stake in Invesco QQQ by 11.6% during the first quarter. Axiom Financial Strategies LLC now owns 816 shares of the exchange traded fund’s stock worth $255,000 after buying an additional 85 shares during the period. Roundview Capital LLC boosted its stake in Invesco QQQ by 0.9% during the first quarter. Roundview Capital LLC now owns 53,323 shares of the exchange traded fund’s stock worth $19,332,000 after buying an additional 495 shares during the period. Brown Brothers Harriman & Co. boosted its stake in Invesco QQQ by 11.2% during the first quarter. Brown Brothers Harriman & Co. now owns 2,750 shares of the exchange traded fund’s stock worth $997,000 after buying an additional 278 shares during the period. Finally, Covestor Ltd boosted its stake in Invesco QQQ by 309.2% during the first quarter. Covestor Ltd now owns 446 shares of the exchange traded fund’s stock worth $162,000 after buying an additional 337 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 1.2 %

NASDAQ QQQ traded down $5.26 on Wednesday, hitting $425.84. 56,285,592 shares of the stock were exchanged, compared to its average volume of 45,611,754. Invesco QQQ has a 52-week low of $309.89 and a 52-week high of $449.34. The stock has a fifty day moving average price of $438.36 and a two-hundred day moving average price of $407.27.

Invesco QQQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $2.29 annualized dividend and a dividend yield of 0.54%.

Invesco QQQ Company 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.