Owen LaRue LLC Has $10.20 Million Position in Invesco QQQ (NASDAQ:QQQ)

Owen LaRue LLC boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 19,947 shares of the exchange traded fund’s stock after buying an additional 417 shares during the quarter. Invesco QQQ makes up about 5.3% of Owen LaRue LLC’s portfolio, making the stock its 4th largest position. Owen LaRue LLC’s holdings in Invesco QQQ were worth $10,198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QQQ. AQR Capital Management LLC raised its position in shares of Invesco QQQ by 122.6% in the 4th quarter. AQR Capital Management LLC now owns 86,832 shares of the exchange traded fund’s stock valued at $44,391,000 after acquiring an additional 47,821 shares during the period. Perbak Capital Partners LLP acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $1,747,000. Firestone Capital Management raised its holdings in Invesco QQQ by 16.0% during the 4th quarter. Firestone Capital Management now owns 1,088 shares of the exchange traded fund’s stock worth $556,000 after buying an additional 150 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Invesco QQQ by 441.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 207,049 shares of the exchange traded fund’s stock worth $105,850,000 after buying an additional 168,810 shares during the period. Finally, Parkshore Wealth Management Inc. acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $779,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $472.41 on Tuesday. The company has a market capitalization of $299.34 billion, a P/E ratio of 28.58 and a beta of 1.11. The company’s 50 day moving average price is $473.06 and its two-hundred day moving average price is $499.98. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Shareholders 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.