McElhenny Sheffield Capital Management LLC Has $1.74 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

McElhenny Sheffield Capital Management LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 27.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,714 shares of the exchange traded fund’s stock after buying an additional 807 shares during the period. Invesco QQQ makes up 0.7% of McElhenny Sheffield Capital Management LLC’s portfolio, making the stock its 12th largest holding. McElhenny Sheffield Capital Management LLC’s holdings in Invesco QQQ were worth $1,742,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PayPay Securities Corp lifted its position in Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ in the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Invesco QQQ in the 4th quarter valued at approximately $36,000. Roxbury Financial LLC bought a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.3%

NASDAQ QQQ opened at $532.41 on Thursday. The firm’s 50 day simple moving average is $488.16 and its 200 day simple moving average is $502.45. The firm has a market capitalization of $333.63 billion, a price-to-earnings ratio of 32.66 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 firm also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

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.