Cherrydale Wealth Management LLC Has $6.40 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Cherrydale Wealth Management LLC raised its position in Invesco QQQ (NASDAQ:QQQ) by 111.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,509 shares of the exchange traded fund’s stock after purchasing an additional 6,585 shares during the quarter. Invesco QQQ accounts for approximately 2.5% of Cherrydale Wealth Management LLC’s portfolio, making the stock its 9th biggest holding. Cherrydale Wealth Management LLC’s holdings in Invesco QQQ were worth $6,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of QQQ. Legacy Bridge LLC boosted its position in Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares during the period. BNP Paribas bought a new stake in shares of Invesco QQQ during the 3rd quarter worth about $62,000. Brooklyn Investment Group acquired a new position in Invesco QQQ in the 4th quarter valued at about $69,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in Invesco QQQ by 75.9% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after acquiring an additional 63 shares during the period. Finally, Pacifica Partners Inc. acquired a new stake in Invesco QQQ during the fourth quarter worth approximately $73,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.7 %

Invesco QQQ stock opened at $521.74 on Friday. The stock’s 50 day moving average is $515.94 and its 200-day moving average is $492.08. Invesco QQQ has a 12 month low of $409.16 and a 12 month high of $539.15.

Invesco QQQ Dividend Announcement

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

About Invesco QQQ

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.