Tepp RIA LLC Takes Position in Invesco QQQ (NASDAQ:QQQ)

Tepp RIA LLC purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, Holdings Channel reports. The fund purchased 24,125 shares of the exchange traded fund’s stock, valued at approximately $12,333,000. Invesco QQQ comprises approximately 18.3% of Tepp RIA LLC’s holdings, making the stock its 3rd biggest position.

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

Invesco QQQ Stock Down 0.6 %

Shares of QQQ stock opened at $481.62 on Friday. The company has a 50 day moving average price of $509.49 and a 200-day moving average price of $504.67. Invesco QQQ has a 52 week low of $413.07 and a 52 week high of $540.81. The firm has a market capitalization of $303.54 billion, a PE ratio of 30.74 and a beta of 1.11.

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 given 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.