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

Alterna Wealth Management Inc. boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,413 shares of the exchange traded fund’s stock after acquiring an additional 364 shares during the period. Invesco QQQ accounts for about 2.2% of Alterna Wealth Management Inc.’s holdings, making the stock its 13th biggest position. Alterna Wealth Management Inc.’s holdings in Invesco QQQ were worth $1,807,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in Invesco QQQ by 40,957.3% during the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after buying an additional 28,263,426 shares during the last quarter. Comerica Bank purchased a new stake in shares of Invesco QQQ in the 3rd quarter worth about $140,657,000. Granite Bay Wealth Management LLC grew its position in shares of Invesco QQQ by 47.1% in the 4th quarter. Granite Bay Wealth Management LLC now owns 1,183,279 shares of the exchange traded fund’s stock worth $451,075,000 after buying an additional 378,922 shares during the period. CHURCHILL MANAGEMENT Corp grew its position in shares of Invesco QQQ by 36.3% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 1,413,069 shares of the exchange traded fund’s stock worth $578,680,000 after buying an additional 376,661 shares during the period. Finally, Cerity Partners LLC grew its position in shares of Invesco QQQ by 77.2% in the 4th quarter. Cerity Partners LLC now owns 842,894 shares of the exchange traded fund’s stock worth $345,182,000 after buying an additional 367,317 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock traded up $8.58 during mid-day trading on Friday, reaching $435.48. The stock had a trading volume of 48,515,252 shares, compared to its average volume of 48,759,256. The company has a 50-day moving average price of $436.53 and a two-hundred day moving average price of $412.18. Invesco QQQ has a one year low of $315.11 and a one year high of $449.34.

Invesco QQQ Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th were given a $0.5735 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $2.29 annualized dividend and a yield of 0.53%.

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.