Invesco QQQ (NASDAQ:QQQ) Stake Lifted by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,896 shares of the exchange traded fund’s stock after buying an additional 358 shares during the period. Invesco QQQ accounts for approximately 1.7% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 12th largest holding. Redmont Wealth Advisors LLC’s holdings in Invesco QQQ were worth $1,186,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Beaumont Financial Advisors LLC raised its holdings in shares of Invesco QQQ by 6.9% during the fourth quarter. Beaumont Financial Advisors LLC now owns 5,067 shares of the exchange traded fund’s stock valued at $2,075,000 after buying an additional 328 shares during the last quarter. Opes Wealth Management LLC bought a new stake in Invesco QQQ during the 4th quarter valued at $248,000. Sterling Financial Planning Inc. raised its stake in Invesco QQQ by 0.4% during the 4th quarter. Sterling Financial Planning Inc. now owns 6,735 shares of the exchange traded fund’s stock valued at $2,758,000 after acquiring an additional 27 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in Invesco QQQ by 184.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 6,058 shares of the exchange traded fund’s stock worth $2,481,000 after acquiring an additional 3,932 shares during the period. Finally, Western Wealth Management LLC grew its stake in shares of Invesco QQQ by 4.8% in the fourth quarter. Western Wealth Management LLC now owns 147,370 shares of the exchange traded fund’s stock worth $60,351,000 after purchasing an additional 6,709 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ traded down $7.82 during midday trading on Friday, reaching $415.59. 49,471,541 shares of the company traded hands, compared to its average volume of 45,657,285. The stock has a 50-day moving average price of $438.05 and a 200 day moving average price of $407.51. Invesco QQQ has a 52 week low of $309.89 and a 52 week high of $449.34.

Invesco QQQ Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be issued 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 yield of 0.55%.

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.