Searle & CO. Increases Stake in Invesco QQQ (NASDAQ:QQQ)

Searle & CO. raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,257 shares of the exchange traded fund’s stock after buying an additional 100 shares during the period. Searle & CO.’s holdings in Invesco QQQ were worth $3,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Red Tortoise LLC lifted its position in shares of Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares during the period. Friedenthal Financial purchased a new stake in Invesco QQQ during the 4th quarter valued at $41,000. Bear Mountain Capital Inc. purchased a new position in Invesco QQQ in the 4th quarter worth about $42,000. Core Wealth Advisors Inc. boosted its holdings in Invesco QQQ by 33.3% in the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after purchasing an additional 30 shares during the last quarter. Finally, Blume Capital Management Inc. raised its stake in Invesco QQQ by 104.0% during the 3rd quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock valued at $48,000 after buying an additional 3,500 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock traded down $3.07 on Wednesday, reaching $421.52. The stock had a trading volume of 50,955,238 shares, compared to its average volume of 45,974,980. The stock has a market cap of $246.57 billion, a P/E ratio of 34.49 and a beta of 1.30. Invesco QQQ has a 1 year low of $315.11 and a 1 year high of $449.34. The company has a 50 day simple moving average of $436.86 and a 200 day simple moving average of $411.54.

Invesco QQQ Announces Dividend

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

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.