Sherman Asset Management Inc. Takes Position in Invesco QQQ (NASDAQ:QQQ)

Sherman Asset Management Inc. acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 252 shares of the exchange traded fund’s stock, valued at approximately $129,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PayPay Securities Corp boosted its holdings in Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 36 shares during the last quarter. Roxbury Financial LLC purchased a new position in Invesco QQQ during the fourth quarter worth about $37,000. Hoese & Co LLP boosted its holdings in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in Invesco QQQ during the fourth quarter worth about $51,000. Finally, Legacy Bridge LLC boosted its holdings in Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $508.30 on Friday. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $540.81. The stock has a market cap of $320.36 billion, a PE ratio of 33.43 and a beta of 1.11. The firm’s 50-day simple moving average is $522.05 and its 200 day simple moving average is $503.28.

Invesco QQQ Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid 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.