Pacific Point Advisors LLC Takes $942,000 Position in Invesco QQQ (NASDAQ:QQQ)

Pacific Point Advisors LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, Holdings Channel.com reports. The firm purchased 1,796 shares of the exchange traded fund’s stock, valued at approximately $942,000.

A number of other institutional investors have also made changes to their positions in the business. Proficio Capital Partners LLC raised its holdings in Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the last quarter. Strategic Financial Concepts LLC grew its position in shares of Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after purchasing an additional 4,105,389 shares during the period. NWI Management LP boosted its position in Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after acquiring an additional 3,648,000 shares during the last quarter. Senator Investment Group LP acquired a new position in Invesco QQQ during the 4th quarter worth approximately $679,936,000. Finally, Artemis Wealth Advisors LLC boosted its position in Invesco QQQ by 1,337.4% during the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock worth $423,470,000 after acquiring an additional 895,277 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 0.2%

QQQ opened at $514.00 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81. The stock’s fifty day simple moving average is $474.14 and its 200 day simple moving average is $500.80. The stock has a market cap of $322.10 billion, a PE ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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