Patrick M Sweeney & Associates Inc. Purchases Shares of 3,870 Invesco QQQ (NASDAQ:QQQ)

Patrick M Sweeney & Associates Inc. purchased a new position in Invesco QQQ (NASDAQ:QQQ) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,870 shares of the exchange traded fund’s stock, valued at approximately $1,585,000. Invesco QQQ makes up about 1.4% of Patrick M Sweeney & Associates Inc.’s investment portfolio, making the stock its 16th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Red Tortoise LLC grew its holdings in shares of Invesco QQQ by 370.0% in the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 74 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at about $41,000. Bear Mountain Capital Inc. purchased a new position in Invesco QQQ in the fourth quarter worth about $42,000. Core Wealth Advisors Inc. increased its stake in Invesco QQQ by 33.3% during the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after acquiring an additional 30 shares during the last quarter. Finally, Blume Capital Management Inc. lifted its stake in shares of Invesco QQQ by 104.0% in 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. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ traded down $0.26 during trading hours on Wednesday, hitting $440.06. 24,578,553 shares of the company traded hands, compared to its average volume of 45,326,637. The company’s 50 day moving average price is $436.66 and its 200 day moving average price is $414.00. Invesco QQQ has a 12 month low of $321.32 and a 12 month high of $449.34.

Invesco QQQ Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th were paid a $0.5735 dividend. This represents a $2.29 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was 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.