Mission Wealth Management LP Has $7.82 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Mission Wealth Management LP raised its position in Invesco QQQ (NASDAQ:QQQ) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,093 shares of the exchange traded fund’s stock after buying an additional 537 shares during the quarter. Mission Wealth Management LP’s holdings in Invesco QQQ were worth $7,819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Red Tortoise LLC grew its holdings in 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 buying an additional 74 shares in the last quarter. Friedenthal Financial acquired a new position in Invesco QQQ in the 4th quarter valued at $41,000. Bear Mountain Capital Inc. acquired a new position in Invesco QQQ in the 4th quarter valued at $42,000. Core Wealth Advisors Inc. lifted its position in shares of Invesco QQQ by 33.3% during the 3rd quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock valued at $43,000 after acquiring an additional 30 shares during the period. Finally, Blume Capital Management Inc. lifted its position in shares of Invesco QQQ by 104.0% during the 3rd quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock valued at $48,000 after acquiring an additional 3,500 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded down $8.16 during trading on Tuesday, reaching $424.59. 43,194,805 shares of the company traded hands, compared to its average volume of 45,909,301. The company’s 50 day moving average is $436.92 and its two-hundred day moving average is $411.12. Invesco QQQ has a 52 week low of $315.11 and a 52 week high of $449.34.

Invesco QQQ Announces Dividend

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

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.