Gray Wealth Management Inc. Has $4.97 Million Position in Invesco QQQ (NASDAQ:QQQ)

Gray Wealth Management Inc. grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,143 shares of the exchange traded fund’s stock after acquiring an additional 210 shares during the quarter. Invesco QQQ accounts for approximately 2.4% of Gray Wealth Management Inc.’s investment portfolio, making the stock its 12th biggest position. Gray Wealth Management Inc.’s holdings in Invesco QQQ were worth $4,973,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Red Tortoise LLC boosted its holdings in shares of Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 74 shares in the last quarter. Friedenthal Financial bought a new position in shares of Invesco QQQ in the fourth quarter worth about $41,000. Bear Mountain Capital Inc. acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $42,000. Core Wealth Advisors Inc. increased its position in Invesco QQQ by 33.3% during the 3rd quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after purchasing an additional 30 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Invesco QQQ in the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.6 %

QQQ stock traded down $2.43 during midday trading on Thursday, reaching $423.41. 46,028,430 shares of the stock were exchanged, compared to its average volume of 45,621,383. The company has a fifty day moving average price of $438.24 and a 200 day moving average price of $407.40. Invesco QQQ has a 52 week low of $309.89 and a 52 week high of $449.34.

Invesco QQQ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be issued a dividend of $0.5735 per share. The ex-dividend date is Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.54%.

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.