Okabena Investment Services Inc. Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Okabena Investment Services Inc. acquired a new stake in Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,031 shares of the exchange traded fund’s stock, valued at approximately $1,550,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Invesco QQQ by 159.6% during the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock worth $1,712,000 after purchasing an additional 2,059 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Invesco QQQ by 141.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after purchasing an additional 11,351 shares during the last quarter. NRI Wealth Management LC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $28,729,000. Garden State Investment Advisory Services LLC lifted its stake in Invesco QQQ by 13.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after purchasing an additional 3,581 shares during the last quarter. Finally, Silverleafe Capital Partners LLC boosted its position in Invesco QQQ by 16.8% in the fourth quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund’s stock valued at $23,165,000 after buying an additional 6,518 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $468.94 on Friday. The firm’s fifty day moving average price is $508.43 and its two-hundred day moving average price is $504.77. The stock has a market cap of $295.55 billion, a PE ratio of 30.74 and a beta of 1.11. 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 company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

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.