Lighthouse Wealth Management Inc. Invests $13.73 Million in Invesco QQQ (NASDAQ:QQQ)

Lighthouse Wealth Management Inc. acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 26,848 shares of the exchange traded fund’s stock, valued at approximately $13,726,000. Invesco QQQ accounts for 12.6% of Lighthouse Wealth Management Inc.’s investment portfolio, making the stock its 2nd biggest holding.

A number of other institutional investors have also added to or reduced their stakes in QQQ. AQR Capital Management LLC boosted its holdings in Invesco QQQ by 332.0% in the 2nd quarter. AQR Capital Management LLC now owns 12,041 shares of the exchange traded fund’s stock valued at $5,769,000 after purchasing an additional 9,254 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Invesco QQQ by 28.5% in the second quarter. The Manufacturers Life Insurance Company now owns 70,490 shares of the exchange traded fund’s stock worth $33,772,000 after buying an additional 15,648 shares in the last quarter. SkyView Investment Advisors LLC bought a new stake in Invesco QQQ during the second quarter valued at $209,000. Magnolia Capital Advisors LLC bought a new position in Invesco QQQ in the 2nd quarter worth about $368,000. Finally, Second Line Capital LLC increased its stake in Invesco QQQ by 99.2% in the 2nd quarter. Second Line Capital LLC now owns 1,894 shares of the exchange traded fund’s stock worth $908,000 after acquiring an additional 943 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $513.93 on Tuesday. The business has a 50-day moving average of $517.86 and a 200-day moving average of $493.21. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $539.15.

Invesco QQQ Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

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.