BlueChip Wealth Advisors LLC Boosts Holdings in Invesco QQQ (NASDAQ:QQQ)

BlueChip Wealth Advisors LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,828 shares of the exchange traded fund’s stock after acquiring an additional 1,229 shares during the quarter. Invesco QQQ accounts for about 3.4% of BlueChip Wealth Advisors LLC’s investment portfolio, making the stock its 8th largest holding. BlueChip Wealth Advisors LLC’s holdings in Invesco QQQ were worth $6,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. PayPay Securities Corp lifted its holdings in Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after acquiring an additional 36 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at about $37,000. Hoese & Co LLP lifted its stake in shares of Invesco QQQ by 32.3% in the 4th 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 period. Midwest Capital Advisors LLC purchased a new position in shares of Invesco QQQ in the fourth quarter worth approximately $51,000. Finally, Frazier Financial Advisors LLC grew its position in Invesco QQQ by 1,288.9% during the fourth quarter. Frazier Financial Advisors LLC now owns 125 shares of the exchange traded fund’s stock valued at $64,000 after buying an additional 116 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 2.6 %

QQQ opened at $468.94 on Friday. The firm’s 50 day simple moving average is $508.43 and its two-hundred day simple moving average is $504.77. The company has a market capitalization of $295.55 billion, a PE ratio of 30.74 and a beta of 1.11. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently announced 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 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.