SVB Wealth LLC Makes New $8.69 Million Investment in Invesco QQQ (NASDAQ:QQQ)

SVB Wealth LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,989 shares of the exchange traded fund’s stock, valued at approximately $8,685,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Illumine Investment Management LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $1,356,000. Tufton Capital Management acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $208,000. Veridan Wealth LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $2,298,000. Waterway Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 23.1% in the fourth quarter. Waterway Wealth Management LLC now owns 1,055 shares of the exchange traded fund’s stock valued at $539,000 after buying an additional 198 shares during the period. Finally, Fortress Financial Group LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $2,980,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.6 %

Shares of Invesco QQQ stock opened at $508.30 on Friday. The firm has a market cap of $320.36 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11. The business has a fifty day simple moving average of $522.05 and a 200-day simple moving average of $503.00. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $540.81.

Invesco QQQ Announces Dividend

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

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.