PPSC Investment Service Corp Increases Stock Position in Invesco QQQ (NASDAQ:QQQ)

PPSC Investment Service Corp boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 238,500 shares of the exchange traded fund’s stock after acquiring an additional 15,700 shares during the period. Invesco QQQ accounts for about 18.5% of PPSC Investment Service Corp’s holdings, making the stock its 3rd biggest position. PPSC Investment Service Corp’s holdings in Invesco QQQ were worth $97,671,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Friedenthal Financial purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $41,000. Bear Mountain Capital Inc. purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $42,000. Core Wealth Advisors Inc. increased its stake in shares of Invesco QQQ by 33.3% in the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after purchasing an additional 30 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Invesco QQQ in the second quarter worth about $44,000. Finally, Blume Capital Management Inc. increased its stake in shares of Invesco QQQ by 104.0% in the third quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock worth $48,000 after purchasing an additional 3,500 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $3.64 during mid-day trading on Wednesday, hitting $427.46. 31,984,652 shares of the stock traded hands, compared to its average volume of 45,249,617. The business’s 50-day moving average price is $438.36 and its 200 day moving average price is $407.27. Invesco QQQ has a 12-month low of $309.89 and a 12-month high of $449.34.

Invesco QQQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be paid a dividend of $0.5735 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $2.29 annualized dividend and a yield of 0.54%.

Invesco QQQ Company 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.