Tepp RIA LLC Invests $12.33 Million in Invesco QQQ (NASDAQ:QQQ)

Tepp RIA LLC bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 24,125 shares of the exchange traded fund’s stock, valued at approximately $12,333,000. Invesco QQQ makes up about 18.3% of Tepp RIA LLC’s investment portfolio, making the stock its 3rd largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. SOA Wealth Advisors LLC. grew its position in shares of Invesco QQQ by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock worth $8,477,000 after buying an additional 46 shares during the period. FMR LLC boosted its stake in Invesco QQQ by 1.7% during the third quarter. FMR LLC now owns 778,065 shares of the exchange traded fund’s stock worth $379,751,000 after acquiring an additional 13,338 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in Invesco QQQ by 13.7% in the third quarter. Glenmede Trust Co. NA now owns 29,459 shares of the exchange traded fund’s stock worth $14,378,000 after purchasing an additional 3,553 shares during the period. BNP Paribas bought a new position in shares of Invesco QQQ during the third quarter valued at approximately $62,000. Finally, Fiduciary Trust Co lifted its holdings in shares of Invesco QQQ by 4.4% during the third quarter. Fiduciary Trust Co now owns 5,508 shares of the exchange traded fund’s stock valued at $2,688,000 after purchasing an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.6 %

Shares of QQQ opened at $481.62 on Friday. The stock has a market cap of $303.54 billion, a P/E ratio of 30.74 and a beta of 1.11. The business’s 50 day moving average price is $509.49 and its 200-day moving average price is $504.67. Invesco QQQ has a 52 week low of $413.07 and a 52 week high of $540.81.

Invesco QQQ Cuts Dividend

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

About Invesco QQQ

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.