Invesco QQQ (NASDAQ:QQQ) is Richmond Brothers Inc.’s Largest Position

Richmond Brothers Inc. lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 76,312 shares of the exchange traded fund’s stock after selling 595 shares during the quarter. Invesco QQQ comprises about 25.0% of Richmond Brothers Inc.’s portfolio, making the stock its biggest position. Richmond Brothers Inc.’s holdings in Invesco QQQ were worth $39,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. GM Advisory Group LLC grew its holdings in Invesco QQQ by 12.5% during the 4th quarter. GM Advisory Group LLC now owns 2,228 shares of the exchange traded fund’s stock valued at $1,139,000 after buying an additional 247 shares in the last quarter. North Forty Two & Co. purchased a new position in Invesco QQQ during the 4th quarter valued at about $229,000. FreeGulliver LLC grew its holdings in Invesco QQQ by 8.5% during the 4th quarter. FreeGulliver LLC now owns 2,623 shares of the exchange traded fund’s stock valued at $1,341,000 after buying an additional 205 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of Invesco QQQ during the fourth quarter worth about $123,000. Finally, Brooklyn FI LLC grew its holdings in shares of Invesco QQQ by 6,359.5% during the fourth quarter. Brooklyn FI LLC now owns 45,281 shares of the exchange traded fund’s stock worth $22,892,000 after purchasing an additional 44,580 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 1.7 %

Shares of NASDAQ QQQ opened at $474.54 on Wednesday. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $540.81. The firm has a market capitalization of $299.08 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11. The business has a 50-day moving average of $513.24 and a 200-day moving average of $504.15.

Invesco QQQ Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

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.