Summit Financial LLC Has $19.23 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Summit Financial LLC boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,607 shares of the exchange traded fund’s stock after buying an additional 3,723 shares during the period. Invesco QQQ makes up about 0.7% of Summit Financial LLC’s holdings, making the stock its 22nd biggest position. Summit Financial LLC’s holdings in Invesco QQQ were worth $19,226,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Stephens Consulting LLC boosted its position in Invesco QQQ by 0.4% during the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock valued at $2,769,000 after purchasing an additional 19 shares during the last quarter. Cardinal Point Capital Management ULC boosted its holdings in shares of Invesco QQQ by 0.5% in the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock valued at $1,995,000 after buying an additional 20 shares during the last quarter. Hoese & Co LLP grew its stake 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 valued at $42,000 after buying an additional 20 shares in the last quarter. Farmers & Merchants Investments Inc. raised its position in Invesco QQQ by 1.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock worth $559,000 after acquiring an additional 20 shares in the last quarter. Finally, RAM Investment Partners LLC lifted its stake in Invesco QQQ by 1.7% in the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund’s stock valued at $597,000 after acquiring an additional 20 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ opened at $468.94 on Monday. The firm has a 50-day moving average of $508.43 and a 200-day moving average of $505.35. The company has a market cap of $295.55 billion, a PE ratio of 30.74 and a beta of 1.11. Invesco QQQ has a one year low of $413.07 and a one year high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date of this dividend is 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.