Beacon Capital Management Inc. Increases Holdings in Invesco QQQ (NASDAQ:QQQ)

Beacon Capital Management Inc. raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 182,804 shares of the exchange traded fund’s stock after purchasing an additional 13,670 shares during the period. Invesco QQQ comprises 4.0% of Beacon Capital Management Inc.’s portfolio, making the stock its 14th biggest position. Beacon Capital Management Inc.’s holdings in Invesco QQQ were worth $93,455,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in QQQ. GAMMA Investing LLC lifted its stake in Invesco QQQ by 159.6% in the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock worth $1,712,000 after acquiring an additional 2,059 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Invesco QQQ by 141.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after purchasing an additional 11,351 shares in the last quarter. NRI Wealth Management LC purchased a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $28,729,000. Garden State Investment Advisory Services LLC boosted its stake in shares of Invesco QQQ by 13.1% during the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after purchasing an additional 3,581 shares in the last quarter. Finally, Silverleafe Capital Partners LLC increased its holdings in Invesco QQQ by 16.8% during the fourth quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund’s stock valued at $23,165,000 after buying an additional 6,518 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.3 %

Shares of NASDAQ:QQQ opened at $479.26 on Friday. The company has a market capitalization of $302.05 billion, a PE ratio of 30.74 and a beta of 1.11. Invesco QQQ has a 12-month low of $413.07 and a 12-month high of $540.81. The business’s fifty day simple moving average is $511.83 and its 200-day simple moving average is $503.82.

Invesco QQQ Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

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.