Summit Global Investments Trims Stake in Invesco QQQ (NASDAQ:QQQ)

Summit Global Investments lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 13.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,761 shares of the exchange traded fund’s stock after selling 3,523 shares during the period. Invesco QQQ accounts for approximately 0.7% of Summit Global Investments’ portfolio, making the stock its 27th largest holding. Summit Global Investments’ holdings in Invesco QQQ were worth $11,636,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. PayPay Securities Corp raised its holdings in shares of Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after acquiring an additional 36 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $37,000. Hoese & Co LLP lifted 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 purchasing an additional 20 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in Invesco QQQ in the 4th quarter worth approximately $51,000. Finally, Creative Capital Management Investments LLC grew its stake in Invesco QQQ by 740.0% in the 4th quarter. Creative Capital Management Investments LLC now owns 126 shares of the exchange traded fund’s stock worth $64,000 after buying an additional 111 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $480.84 on Friday. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $540.81. The stock has a market cap of $303.05 billion, a P/E ratio of 30.74 and a beta of 1.11. The firm’s fifty day moving average price is $511.30 and its 200-day moving average price is $503.85.

Invesco QQQ Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Invesco QQQ Company 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.