Fernwood Investment Management LLC Takes Position in Invesco QQQ (NASDAQ:QQQ)

Fernwood Investment Management LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,858 shares of the exchange traded fund’s stock, valued at approximately $761,000.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in Invesco QQQ by 40,957.3% in the fourth 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 acquired a new stake in shares of Invesco QQQ in the 3rd quarter worth $140,657,000. Granite Bay Wealth Management LLC boosted its position in shares of Invesco QQQ by 47.1% during 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 purchasing an additional 378,922 shares in the last quarter. CHURCHILL MANAGEMENT Corp lifted its position in shares of Invesco QQQ by 36.3% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 1,413,069 shares of the exchange traded fund’s stock valued at $578,680,000 after acquiring an additional 376,661 shares during the period. Finally, Cerity Partners LLC boosted 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 in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock traded up $1.75 during mid-day trading on Monday, hitting $432.75. 29,370,162 shares of the stock were exchanged, compared to its average volume of 45,941,555. Invesco QQQ has a twelve month low of $315.11 and a twelve month high of $449.34. The company has a 50-day simple moving average of $436.88 and a 200 day simple moving average of $410.68.

Invesco QQQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. This represents a $2.29 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend 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.