Perbak Capital Partners LLP Makes New $1.75 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Perbak Capital Partners LLP acquired a new stake in Invesco QQQ (NASDAQ:QQQ) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,417 shares of the exchange traded fund’s stock, valued at approximately $1,747,000. Invesco QQQ accounts for about 0.9% of Perbak Capital Partners LLP’s holdings, making the stock its 24th largest position.

Other hedge funds have also recently made changes to their positions in the company. Firestone Capital Management grew its holdings in shares of Invesco QQQ by 16.0% during the fourth quarter. Firestone Capital Management now owns 1,088 shares of the exchange traded fund’s stock worth $556,000 after buying an additional 150 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Invesco QQQ by 441.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 207,049 shares of the exchange traded fund’s stock valued at $105,850,000 after acquiring an additional 168,810 shares during the last quarter. Parkshore Wealth Management Inc. acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $779,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at about $36,000. Finally, Piedmont Capital Management LLC lifted its stake in shares of Invesco QQQ by 5.1% in the fourth quarter. Piedmont Capital Management LLC now owns 1,814 shares of the exchange traded fund’s stock worth $926,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.0 %

NASDAQ:QQQ opened at $472.41 on Tuesday. The company has a market cap of $299.34 billion, a PE ratio of 28.58 and a beta of 1.11. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The business’s 50 day moving average is $473.06 and its two-hundred day moving average is $499.98.

Invesco QQQ Cuts Dividend

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