Financial Management Professionals Inc. Grows Stock Position in Invesco QQQ (NASDAQ:QQQ)

Financial Management Professionals Inc. boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 4,040.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,035 shares of the exchange traded fund’s stock after purchasing an additional 1,010 shares during the period. Financial Management Professionals Inc.’s holdings in Invesco QQQ were worth $529,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Invesco QQQ by 159.6% in the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock worth $1,712,000 after buying an additional 2,059 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Invesco QQQ by 141.0% in the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock worth $9,468,000 after acquiring an additional 11,351 shares during the last quarter. Socha Financial Group LLC grew its holdings in shares of Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after buying an additional 2,171 shares in the last quarter. NRI Wealth Management LC purchased a new stake in Invesco QQQ during the 4th quarter valued at about $28,729,000. Finally, Garden State Investment Advisory Services LLC increased its holdings in shares of Invesco QQQ by 13.1% in the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after purchasing an additional 3,581 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 1.7 %

NASDAQ QQQ opened at $521.74 on Friday. The business’s fifty day simple moving average is $515.94 and its 200-day simple moving average is $492.08. Invesco QQQ has a 52 week low of $409.16 and a 52 week high of $539.15.

Invesco QQQ Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

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.