Copley Financial Group Inc. Boosts Stake in Invesco QQQ (NASDAQ:QQQ)

Copley Financial Group Inc. lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 85.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,088 shares of the exchange traded fund’s stock after purchasing an additional 961 shares during the period. Invesco QQQ comprises about 0.8% of Copley Financial Group Inc.’s portfolio, making the stock its 19th largest holding. Copley Financial Group Inc.’s holdings in Invesco QQQ were worth $1,068,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. Wilkins Miller Wealth Management LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $1,018,000. Synergy Investment Management LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at about $723,000. Grant Private Wealth Management Inc purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $815,000. Tandem Investment Partners LLC acquired a new position in Invesco QQQ during the fourth quarter worth about $4,623,000. Finally, Gemsstock Ltd. grew its stake in Invesco QQQ by 266.4% during the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock valued at $150,046,000 after acquiring an additional 213,400 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ opened at $509.24 on Tuesday. The company’s 50 day simple moving average is $475.41 and its two-hundred day simple moving average is $500.77. The firm has a market capitalization of $319.12 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

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.