Centric Wealth Management Has $4.22 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Centric Wealth Management trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.8% in the fourth quarter, Holdings Channel reports. The fund owned 8,251 shares of the exchange traded fund’s stock after selling 242 shares during the quarter. Invesco QQQ comprises approximately 1.1% of Centric Wealth Management’s investment portfolio, making the stock its 17th biggest holding. Centric Wealth Management’s holdings in Invesco QQQ were worth $4,218,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QQQ. Stephens Consulting LLC increased its stake in Invesco QQQ by 0.4% in the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock valued at $2,769,000 after acquiring an additional 19 shares during the period. Cardinal Point Capital Management ULC raised its holdings in shares of Invesco QQQ by 0.5% in the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock worth $1,995,000 after buying an additional 20 shares in the last quarter. Hoese & Co LLP lifted its position in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 20 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in Invesco QQQ by 1.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock valued at $559,000 after buying an additional 20 shares in the last quarter. Finally, RAM Investment Partners LLC grew its position in Invesco QQQ by 1.7% in the fourth 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 period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $468.92 on Tuesday. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $540.81. The business has a fifty day moving average of $507.38 and a two-hundred day moving average of $505.32. The stock has a market cap of $297.46 billion, a PE ratio of 30.05 and a beta of 1.18.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be issued a dividend of $0.7157 per share. 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.