Sheets Smith Wealth Management Has $12.44 Million Position in Invesco QQQ (NASDAQ:QQQ)

Sheets Smith Wealth Management decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,332 shares of the exchange traded fund’s stock after selling 146 shares during the quarter. Invesco QQQ makes up about 1.5% of Sheets Smith Wealth Management’s investment portfolio, making the stock its 12th biggest holding. Sheets Smith Wealth Management’s holdings in Invesco QQQ were worth $12,439,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Hoese & Co LLP grew its stake in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 20 shares in the last quarter. Legacy Bridge LLC raised 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 acquiring an additional 45 shares in the last quarter. BNP Paribas acquired a new stake in Invesco QQQ in the third quarter valued at $62,000. Brooklyn Investment Group bought a new position in shares of Invesco QQQ in the 4th quarter valued at about $69,000. Finally, Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Invesco QQQ by 75.9% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock worth $71,000 after purchasing an additional 63 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.6 %

Shares of NASDAQ:QQQ opened at $524.80 on Wednesday. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $539.15. The company has a 50-day simple moving average of $516.10 and a 200 day simple moving average of $492.33.

Invesco QQQ Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.8347 dividend. 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.