Essex Financial Services Inc. Raises Stake in Invesco QQQ (NASDAQ:QQQ)

Essex Financial Services Inc. boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 96,455 shares of the exchange traded fund’s stock after buying an additional 1,195 shares during the period. Invesco QQQ comprises about 3.5% of Essex Financial Services Inc.’s portfolio, making the stock its 2nd largest position. Essex Financial Services Inc.’s holdings in Invesco QQQ were worth $49,311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hoese & Co LLP lifted its position in shares of Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 20 shares during the last quarter. Legacy Bridge LLC lifted its position in shares of Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after buying an additional 45 shares during the last quarter. BNP Paribas purchased a new stake in shares of Invesco QQQ during the third quarter valued at about $62,000. Brooklyn Investment Group purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at about $69,000. Finally, Pacifica Partners Inc. purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at about $73,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

QQQ stock opened at $529.25 on Tuesday. The firm has a 50-day simple moving average of $521.26 and a two-hundred day simple moving average of $495.90. Invesco QQQ has a one year low of $413.07 and a one year high of $539.15.

Invesco QQQ Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date of this dividend 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.