Spreng Capital Management Inc. Purchases New Stake in Invesco QQQ (NASDAQ:QQQ)

Spreng Capital Management Inc. bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,263 shares of the exchange traded fund’s stock, valued at approximately $646,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Proficio Capital Partners LLC raised its stake in Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC raised its position in shares of Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after buying an additional 4,105,389 shares in the last quarter. Artemis Wealth Advisors LLC boosted its stake in shares of Invesco QQQ by 1,337.4% in the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock valued at $423,470,000 after buying an additional 895,277 shares during the period. Toronto Dominion Bank grew its position in Invesco QQQ by 13.0% during the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after buying an additional 488,815 shares in the last quarter. Finally, Anchor Capital Management Group Inc bought a new position in Invesco QQQ during the 4th quarter worth $174,214,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.8 %

QQQ opened at $416.06 on Wednesday. The stock has a market capitalization of $263.70 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The company has a 50-day simple moving average of $495.43 and a 200 day simple moving average of $503.31.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a $0.7157 dividend. The ex-dividend date of this dividend is Monday, March 24th.

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.