Summit Financial LLC Has $19.23 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Summit Financial LLC raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 11.0% in the fourth quarter, HoldingsChannel reports. The fund owned 37,607 shares of the exchange traded fund’s stock after acquiring an additional 3,723 shares during the period. Invesco QQQ accounts for approximately 0.7% of Summit Financial LLC’s investment portfolio, making the stock its 22nd largest holding. Summit Financial LLC’s holdings in Invesco QQQ were worth $19,226,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PayPay Securities Corp boosted its holdings 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 purchasing an additional 36 shares during the period. Roxbury Financial LLC bought a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $37,000. 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. Midwest Capital Advisors LLC bought a new position in Invesco QQQ during the 4th quarter worth $51,000. Finally, Creative Capital Management Investments LLC raised its holdings in Invesco QQQ by 740.0% in the 4th quarter. Creative Capital Management Investments LLC now owns 126 shares of the exchange traded fund’s stock valued at $64,000 after acquiring an additional 111 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $468.94 on Monday. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $540.81. The firm has a market cap of $295.55 billion, a P/E ratio of 30.74 and a beta of 1.11. The business’s fifty day moving average is $508.43 and its 200-day moving average is $505.35.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date of this dividend 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.