Accredited Investors Inc. Raises Holdings in Invesco QQQ (NASDAQ:QQQ)

Accredited Investors Inc. increased its position in Invesco QQQ (NASDAQ:QQQ) by 16.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,410 shares of the exchange traded fund’s stock after acquiring an additional 634 shares during the quarter. Accredited Investors Inc.’s holdings in Invesco QQQ were worth $2,255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EnRich Financial Partners LLC raised its holdings in Invesco QQQ by 255.9% in the 4th quarter. EnRich Financial Partners LLC now owns 516 shares of the exchange traded fund’s stock valued at $264,000 after acquiring an additional 371 shares during the last quarter. Colonial Trust Advisors raised its stake in shares of Invesco QQQ by 3.3% during the fourth quarter. Colonial Trust Advisors now owns 870 shares of the exchange traded fund’s stock valued at $445,000 after purchasing an additional 28 shares during the period. Bank of Hawaii boosted its stake in shares of Invesco QQQ by 4.0% during the 4th quarter. Bank of Hawaii now owns 15,273 shares of the exchange traded fund’s stock valued at $7,808,000 after buying an additional 594 shares during the last quarter. Scotia Capital Inc. acquired a new position in shares of Invesco QQQ in the 4th quarter worth approximately $43,502,000. Finally, Phoenix Financial Ltd. raised its stake in Invesco QQQ by 55.4% during the fourth quarter. Phoenix Financial Ltd. now owns 100,760 shares of the exchange traded fund’s stock worth $51,894,000 after acquiring an additional 35,912 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

QQQ stock opened at $453.62 on Thursday. The company’s 50 day simple moving average is $493.17 and its 200-day simple moving average is $502.94. The firm has a market capitalization of $287.50 billion, a P/E ratio of 30.05 and a beta of 1.11. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be issued 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.