Smith Moore & CO. Has $13.10 Million Position in Invesco QQQ (NASDAQ:QQQ)

Smith Moore & CO. increased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 25,625 shares of the exchange traded fund’s stock after purchasing an additional 244 shares during the period. Invesco QQQ makes up about 1.2% of Smith Moore & CO.’s portfolio, making the stock its 15th biggest holding. Smith Moore & CO.’s holdings in Invesco QQQ were worth $13,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in QQQ. SOA Wealth Advisors LLC. grew its holdings in shares of Invesco QQQ by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock valued at $8,477,000 after purchasing an additional 46 shares during the last quarter. Redwood Investment Management LLC boosted its position in Invesco QQQ by 51.2% in the third quarter. Redwood Investment Management LLC now owns 3,991 shares of the exchange traded fund’s stock valued at $1,976,000 after buying an additional 1,352 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Invesco QQQ by 20.2% during the third quarter. Quantinno Capital Management LP now owns 44,268 shares of the exchange traded fund’s stock worth $21,606,000 after buying an additional 7,435 shares during the last quarter. Quadrature Capital Ltd increased its holdings in shares of Invesco QQQ by 112.7% during the third quarter. Quadrature Capital Ltd now owns 204,839 shares of the exchange traded fund’s stock worth $99,972,000 after buying an additional 108,540 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of Invesco QQQ in the 3rd quarter valued at $475,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 5.4 %

NASDAQ QQQ opened at $450.66 on Friday. The company has a market cap of $285.88 billion, a price-to-earnings ratio of 30.05 and a beta of 1.18. Invesco QQQ has a twelve month low of $413.07 and a twelve month high of $540.81. The business’s fifty day moving average is $503.59 and its 200 day moving average is $504.72.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders 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.