Sheets Smith Wealth Management Has $10.01 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Sheets Smith Wealth Management grew its stake in Invesco QQQ (NASDAQ:QQQ) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,434 shares of the exchange traded fund’s stock after buying an additional 750 shares during the period. Invesco QQQ makes up approximately 1.2% of Sheets Smith Wealth Management’s holdings, making the stock its 18th biggest position. Sheets Smith Wealth Management’s holdings in Invesco QQQ were worth $10,006,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its position in shares of Invesco QQQ by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after purchasing an additional 28,263,426 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Invesco QQQ by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,531,165 shares of the exchange traded fund’s stock worth $1,623,380,000 after buying an additional 52,019 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Invesco QQQ by 6.1% in the third quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund’s stock worth $1,530,696,000 after acquiring an additional 243,305 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Invesco QQQ by 7.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund’s stock worth $1,013,490,000 after acquiring an additional 162,691 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Invesco QQQ by 2.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,852,000 shares of the exchange traded fund’s stock valued at $663,516,000 after purchasing an additional 43,000 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Invesco QQQ stock traded up $8.58 during mid-day trading on Friday, reaching $435.48. The company had a trading volume of 48,515,252 shares, compared to its average volume of 48,759,256. The company has a 50 day moving average of $436.53 and a 200-day moving average of $412.83. Invesco QQQ has a 52 week low of $315.11 and a 52 week high of $449.34.

Invesco QQQ Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th were given a dividend of $0.5735 per share. This represents a $2.29 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, March 18th.

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.