Invesco QQQ (NASDAQ:QQQ) is Concorde Asset Management LLC’s 3rd Largest Position

Concorde Asset Management LLC increased its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,939 shares of the exchange traded fund’s stock after purchasing an additional 99 shares during the quarter. Invesco QQQ makes up approximately 5.0% of Concorde Asset Management LLC’s portfolio, making the stock its 3rd largest position. Concorde Asset Management LLC’s holdings in Invesco QQQ were worth $9,682,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PayPay Securities Corp raised its stake in shares of Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Roxbury Financial LLC acquired a new position in Invesco QQQ in the fourth quarter worth approximately $37,000. Hoese & Co LLP raised 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 valued at $42,000 after acquiring an additional 20 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $51,000. Finally, Perritt Capital Management Inc acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $61,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 4.3 %

Shares of QQQ opened at $446.18 on Friday. The firm has a market cap of $282.79 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11. The company’s fifty day moving average is $491.73 and its 200-day moving average is $502.66. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be issued a $0.7157 dividend. The ex-dividend date 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.