Newport Capital Group LLC Takes $202,000 Position in Invesco QQQ (NASDAQ:QQQ)

Newport Capital Group LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 431 shares of the exchange traded fund’s stock, valued at approximately $202,000.

Other hedge funds also recently modified their holdings of the company. Bridge Generations Wealth Management LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ during the fourth quarter worth $36,000. Roxbury Financial LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth $37,000. Midwest Capital Advisors LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth $51,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ during the fourth quarter worth $57,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 1.3%

Shares of NASDAQ:QQQ opened at $526.96 on Friday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81. The business has a fifty day simple moving average of $492.58 and a 200 day simple moving average of $502.75. The firm has a market cap of $330.22 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

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.