Ipsen Advisor Group LLC Acquires Shares of 3,085 Invesco QQQ (NASDAQ:QQQ)

Ipsen Advisor Group LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, Holdings Channel reports. The institutional investor bought 3,085 shares of the exchange traded fund’s stock, valued at approximately $1,577,000. Invesco QQQ accounts for approximately 1.3% of Ipsen Advisor Group LLC’s holdings, making the stock its 19th largest position.

Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC boosted its position in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after acquiring an additional 11,478,188 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the last quarter. Artemis Wealth Advisors LLC grew its position in shares of Invesco QQQ by 1,337.4% in the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock valued at $423,470,000 after purchasing an additional 895,277 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Invesco QQQ by 13.0% in the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after purchasing an additional 488,815 shares during the last quarter. Finally, Cibc World Market Inc. lifted its position in Invesco QQQ by 90.0% during the fourth quarter. Cibc World Market Inc. now owns 686,117 shares of the exchange traded fund’s stock worth $350,764,000 after buying an additional 324,948 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $493.46 on Wednesday. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $540.81. The firm has a market capitalization of $311.00 billion, a P/E ratio of 30.74 and a beta of 1.11. The stock’s fifty day moving average is $510.77 and its two-hundred day moving average is $504.97.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be issued a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

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.