Spreng Capital Management Inc. Invests $646,000 in Invesco QQQ (NASDAQ:QQQ)

Spreng Capital Management Inc. bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 1,263 shares of the exchange traded fund’s stock, valued at approximately $646,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PayPay Securities Corp boosted its position in Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after buying an additional 36 shares during the last quarter. Roxbury Financial LLC bought a new position in Invesco QQQ in the fourth quarter valued at about $37,000. Hoese & Co LLP increased its position in Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Invesco QQQ in the fourth quarter worth about $51,000. Finally, Perritt Capital Management Inc bought a new stake in Invesco QQQ during the 4th quarter worth about $61,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 1.8 %

QQQ stock opened at $416.06 on Wednesday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The company has a market cap of $263.70 billion, a P/E ratio of 30.05 and a beta of 1.11. The business’s fifty day moving average is $495.43 and its 200-day moving average is $503.31.

Invesco QQQ Cuts Dividend

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