Suncoast Equity Management Boosts Holdings in Invesco QQQ (NASDAQ:QQQ)

Suncoast Equity Management grew its position in shares of Invesco QQQ (NASDAQ:QQQ) by 49.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 740 shares of the exchange traded fund’s stock after purchasing an additional 245 shares during the period. Suncoast Equity Management’s holdings in Invesco QQQ were worth $378,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in Invesco QQQ by 159.6% during the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock valued at $1,712,000 after purchasing an additional 2,059 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Invesco QQQ by 141.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after buying an additional 11,351 shares in the last quarter. Socha Financial Group LLC lifted its holdings in shares of Invesco QQQ by 2.4% during the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after acquiring an additional 2,171 shares during the last quarter. NRI Wealth Management LC purchased a new position in Invesco QQQ in the fourth quarter worth $28,729,000. Finally, Garden State Investment Advisory Services LLC increased its stake in Invesco QQQ by 13.1% in the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after acquiring an additional 3,581 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $537.23 on Friday. The stock’s 50-day simple moving average is $523.48 and its two-hundred day simple moving average is $500.07. Invesco QQQ has a twelve month low of $413.07 and a twelve month high of $540.81.

Invesco QQQ Dividend Announcement

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