Marvin & Palmer Associates Inc. bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,320 shares of the exchange traded fund's stock, valued at approximately $4,765,000. Invesco QQQ comprises 3.6% of Marvin & Palmer Associates Inc.'s holdings, making the stock its 15th largest holding.
Other hedge funds have also added to or reduced their stakes in the company. PayPay Securities Corp raised its stake in Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after buying an additional 36 shares during the last quarter. Roxbury Financial LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $37,000. Hoese & Co LLP grew its position in shares of Invesco QQQ by 32.3% during the 4th 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 during the period. Midwest Capital Advisors LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $51,000. Finally, Legacy Bridge LLC grew its position in shares of Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund's stock valued at $59,000 after acquiring an additional 45 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of QQQ stock opened at $491.79 on Monday. Invesco QQQ has a 1 year low of $413.07 and a 1 year high of $540.81. The firm has a fifty day moving average price of $518.84 and a 200-day moving average price of $504.14. The company has a market cap of $309.95 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11.
The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.
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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