GAMMA Investing LLC Invests $167,000 in Invesco QQQ (NASDAQ:QQQ)

GAMMA Investing LLC purchased a new position in Invesco QQQ (NASDAQ:QQQ) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 400 shares of the exchange traded fund’s stock, valued at approximately $167,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Red Tortoise LLC lifted its position in shares of Invesco QQQ by 370.0% during the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after acquiring an additional 74 shares during the period. Friedenthal Financial bought a new stake in Invesco QQQ during the 4th quarter valued at $41,000. Bear Mountain Capital Inc. bought a new stake in Invesco QQQ during the 4th quarter valued at $42,000. Core Wealth Advisors Inc. increased its stake in Invesco QQQ by 33.3% during the 3rd quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock valued at $43,000 after purchasing an additional 30 shares in the last quarter. Finally, Blume Capital Management Inc. increased its stake in Invesco QQQ by 104.0% during the 3rd quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock valued at $48,000 after purchasing an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $431.00 on Friday. The firm has a fifty day simple moving average of $436.88 and a two-hundred day simple moving average of $410.11. Invesco QQQ has a 12 month low of $315.05 and a 12 month high of $449.34.

Invesco QQQ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be paid a dividend of $0.5735 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a yield of 0.53%.

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.