Prosperity Wealth Management Inc. Raises Stock Position in Invesco QQQ (NASDAQ:QQQ)

Prosperity Wealth Management Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 127.1% during the fourth quarter, Holdings Channel reports. The firm owned 6,442 shares of the exchange traded fund’s stock after buying an additional 3,605 shares during the quarter. Invesco QQQ makes up approximately 1.7% of Prosperity Wealth Management Inc.’s portfolio, making the stock its 11th biggest position. Prosperity Wealth Management Inc.’s holdings in Invesco QQQ were worth $2,638,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Friedenthal Financial bought a new position in Invesco QQQ in the 4th quarter worth about $41,000. Bear Mountain Capital Inc. bought a new position in Invesco QQQ in the 4th quarter worth about $42,000. Russell Investments Group Ltd. purchased a new position in Invesco QQQ in the 2nd quarter worth about $44,000. Core Wealth Advisors Inc. raised its position in Invesco QQQ by 33.3% in the 3rd quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after buying an additional 30 shares during the last quarter. Finally, Blume Capital Management Inc. increased its position in shares of Invesco QQQ by 104.0% during the 3rd quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock valued at $48,000 after purchasing an additional 3,500 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ traded down $4.42 during midday trading on Wednesday, hitting $426.68. 20,791,375 shares of the company’s stock traded hands, compared to its average volume of 45,095,270. Invesco QQQ has a 1 year low of $309.89 and a 1 year high of $449.34. The firm has a fifty day moving average of $438.36 and a 200 day moving average of $407.27.

Invesco QQQ Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. This represents a $2.29 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, March 18th.

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.