Sweeney & Michel LLC Invests $302,000 in Invesco QQQ (NASDAQ:QQQ)

Sweeney & Michel LLC acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 645 shares of the exchange traded fund’s stock, valued at approximately $302,000.

A number of other hedge funds have also recently bought and sold shares of QQQ. Proficio Capital Partners LLC boosted its position in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after acquiring an additional 11,478,188 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after acquiring an additional 4,105,389 shares in the last quarter. NWI Management LP increased its stake in Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after buying an additional 3,648,000 shares during the period. GAMMA Investing LLC increased its stake in Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after buying an additional 1,868,580 shares during the period. Finally, Senator Investment Group LP purchased a new stake in Invesco QQQ during the 4th quarter worth $679,936,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $516.69 on Monday. The company has a 50-day moving average of $478.06 and a 200-day moving average of $500.97. The company has a market capitalization of $323.78 billion, a P/E ratio of 30.62 and a beta of 1.11. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date was 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.