Strait & Sound Wealth Management LLC Has $3.28 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Strait & Sound Wealth Management LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,410 shares of the exchange traded fund’s stock after selling 78 shares during the period. Invesco QQQ accounts for 1.5% of Strait & Sound Wealth Management LLC’s portfolio, making the stock its 13th largest holding. Strait & Sound Wealth Management LLC’s holdings in Invesco QQQ were worth $3,277,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Wealth Group Ltd. increased its position in Invesco QQQ by 6.9% in the 4th quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund’s stock valued at $810,000 after acquiring an additional 102 shares in the last quarter. Tallon Kerry Patrick acquired a new position in shares of Invesco QQQ during the fourth quarter worth approximately $4,904,000. Capital & Planning LLC grew its stake in shares of Invesco QQQ by 5.0% during the fourth quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund’s stock valued at $2,477,000 after purchasing an additional 229 shares during the last quarter. Naviter Wealth LLC grew its stake in shares of Invesco QQQ by 8.8% during the fourth quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund’s stock valued at $675,000 after purchasing an additional 107 shares during the last quarter. Finally, Simon Quick Advisors LLC increased its holdings in shares of Invesco QQQ by 10.7% in the fourth quarter. Simon Quick Advisors LLC now owns 4,238 shares of the exchange traded fund’s stock valued at $2,167,000 after purchasing an additional 408 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ stock opened at $514.00 on Friday. The company has a 50 day moving average price of $474.14 and a 200 day moving average price of $500.80. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The stock has a market capitalization of $322.10 billion, a PE ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were paid 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.