Summit Global Investments Decreases Holdings in Invesco QQQ (NASDAQ:QQQ)

Summit Global Investments decreased its holdings in Invesco QQQ (NASDAQ:QQQ) by 13.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 22,761 shares of the exchange traded fund’s stock after selling 3,523 shares during the period. Invesco QQQ makes up approximately 0.7% of Summit Global Investments’ investment portfolio, making the stock its 27th biggest position. Summit Global Investments’ holdings in Invesco QQQ were worth $11,636,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Proficio Capital Partners LLC boosted its position in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after buying an additional 11,478,188 shares during the period. Toronto Dominion Bank lifted its stake in shares of Invesco QQQ by 13.0% in the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after acquiring an additional 488,815 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after acquiring an additional 4,105,389 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock valued at $1,593,354,000 after acquiring an additional 27,115 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in Invesco QQQ by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund’s stock worth $1,239,886,000 after acquiring an additional 52,235 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $480.84 on Friday. The company has a market capitalization of $303.05 billion, a P/E ratio of 30.74 and a beta of 1.11. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $540.81. The stock has a 50 day moving average price of $511.30 and a two-hundred day moving average price of $503.85.

Invesco QQQ Dividend Announcement

The company also recently declared 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.