Sanctuary Wealth Management L.L.C. Increases Stock Position in Invesco QQQ (NASDAQ:QQQ)

Sanctuary Wealth Management L.L.C. increased its position in Invesco QQQ (NASDAQ:QQQ) by 90.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,317 shares of the exchange traded fund’s stock after buying an additional 7,747 shares during the quarter. Invesco QQQ makes up about 5.5% of Sanctuary Wealth Management L.L.C.’s investment portfolio, making the stock its 7th largest position. Sanctuary Wealth Management L.L.C.’s holdings in Invesco QQQ were worth $8,342,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Stephens Consulting LLC boosted its position in shares of Invesco QQQ by 0.4% during the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock worth $2,769,000 after purchasing an additional 19 shares in the last quarter. Cardinal Point Capital Management ULC grew its position in shares of Invesco QQQ by 0.5% in the fourth quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock valued at $1,995,000 after purchasing an additional 20 shares during the last quarter. Hoese & Co LLP increased its position 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 buying an additional 20 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of Invesco QQQ by 1.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock valued at $559,000 after acquiring an additional 20 shares during the last quarter. Finally, RAM Investment Partners LLC raised its holdings in Invesco QQQ by 1.7% in the 4th quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund’s stock valued at $597,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 2.6 %

Shares of QQQ opened at $468.94 on Friday. The firm has a market cap of $295.55 billion, a PE ratio of 30.74 and a beta of 1.11. The company’s fifty day moving average is $508.43 and its two-hundred day moving average is $505.09. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently disclosed 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.

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.