Blue Capital Inc. Acquires New Stake in Invesco QQQ (NASDAQ:QQQ)

by · The Markets Daily

Blue Capital Inc. bought a new position in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,059 shares of the exchange traded fund’s stock, valued at approximately $2,075,000. Invesco QQQ makes up approximately 1.5% of Blue Capital Inc.’s investment portfolio, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Principal Financial Group Inc. boosted its holdings in Invesco QQQ by 141.0% during the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock worth $9,468,000 after purchasing an additional 11,351 shares during the last quarter. Silverleafe Capital Partners LLC increased its holdings in Invesco QQQ by 16.8% during the fourth quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund’s stock worth $23,165,000 after buying an additional 6,518 shares during the last quarter. Synergy Investment Management LLC bought a new stake in Invesco QQQ during the fourth quarter worth $723,000. Grant Private Wealth Management Inc acquired a new stake in Invesco QQQ in the fourth quarter valued at $815,000. Finally, Tandem Investment Partners LLC bought a new position in shares of Invesco QQQ in the 4th quarter valued at about $4,623,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $488.83 on Monday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The stock has a market cap of $306.33 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11. The firm’s 50-day moving average is $469.56 and its 200-day moving average is $499.64.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

Invesco QQQ Company Profile

(Free Report)

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.

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