Hidden Cove Wealth Management LLC Takes $671,000 Position in Invesco QQQ (NASDAQ:QQQ)

Hidden Cove Wealth Management LLC bought a new position in Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,313 shares of the exchange traded fund’s stock, valued at approximately $671,000. Invesco QQQ accounts for about 0.5% of Hidden Cove Wealth Management LLC’s investment portfolio, making the stock its 22nd largest holding.

A number of other large investors have also recently added to or reduced their stakes in QQQ. Stephens Consulting LLC boosted its holdings in Invesco QQQ by 0.4% in the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock valued at $2,769,000 after purchasing an additional 19 shares during the period. Northeast Investment Management raised its position in shares of Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after buying an additional 20 shares in the last quarter. Planning Capital Management Corp raised its position in shares of Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after buying an additional 20 shares in the last quarter. Cardinal Point Capital Management ULC boosted its stake in shares of Invesco QQQ by 0.5% in the fourth quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock valued at $1,995,000 after buying an additional 20 shares during the period. Finally, Hoese & Co LLP grew its position in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 20 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $528.30 on Thursday. Invesco QQQ has a one year low of $413.07 and a one year high of $539.15. The stock’s fifty day moving average price is $521.76 and its two-hundred day moving average price is $496.86.

Invesco QQQ Announces Dividend

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

Invesco QQQ 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.