Essex Financial Services Inc. Boosts Position in Invesco QQQ (NASDAQ:QQQ)

Essex Financial Services Inc. raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,455 shares of the exchange traded fund’s stock after acquiring an additional 1,195 shares during the period. Invesco QQQ makes up about 3.5% of Essex Financial Services Inc.’s investment portfolio, making the stock its 2nd largest position. Essex Financial Services Inc.’s holdings in Invesco QQQ were worth $49,311,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Hoese & Co LLP grew its holdings in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares during the last quarter. Legacy Bridge LLC grew its holdings in shares of Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares during the last quarter. BNP Paribas bought a new position in shares of Invesco QQQ in the third quarter worth about $62,000. Brooklyn Investment Group bought a new position in shares of Invesco QQQ in the fourth quarter worth about $69,000. Finally, Pacifica Partners Inc. bought a new position in shares of Invesco QQQ in the fourth quarter worth about $73,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $529.25 on Tuesday. The company’s 50-day moving average price is $521.26 and its 200-day moving average price is $495.90. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $539.15.

Invesco QQQ Dividend Announcement

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

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.