Naples Money Management LLC Invests $693,000 in Invesco QQQ (NASDAQ:QQQ)

Naples Money Management LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ) during the 4th quarter, Holdings Channel.com reports. The firm purchased 1,693 shares of the exchange traded fund’s stock, valued at approximately $693,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its holdings in shares of Invesco QQQ by 156,045.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 43,491,085 shares of the exchange traded fund’s stock worth $11,580,806,000 after acquiring an additional 43,463,232 shares during the last quarter. International Assets Investment Management LLC boosted its position in Invesco QQQ by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after buying an additional 28,263,426 shares in the last quarter. Morgan Stanley grew its stake in shares of Invesco QQQ by 10.0% during the fourth quarter. Morgan Stanley now owns 16,815,487 shares of the exchange traded fund’s stock worth $4,477,628,000 after buying an additional 1,533,114 shares during the last quarter. Barclays PLC increased its holdings in shares of Invesco QQQ by 113.5% during the second quarter. Barclays PLC now owns 5,777,618 shares of the exchange traded fund’s stock worth $2,134,368,000 after buying an additional 48,423,350 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Invesco QQQ by 1.2% during the third quarter. Envestnet Asset Management Inc. now owns 4,531,165 shares of the exchange traded fund’s stock worth $1,623,380,000 after buying an additional 52,019 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Down 2.1 %

Shares of NASDAQ QQQ traded down $8.76 during mid-day trading on Friday, hitting $414.65. 75,140,125 shares of the stock traded hands, compared to its average volume of 46,015,852. Invesco QQQ has a twelve month low of $309.89 and a twelve month high of $449.34. The firm has a 50 day simple moving average of $438.05 and a two-hundred day simple moving average of $407.51.

Invesco QQQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be paid a dividend of $0.5735 per share. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, March 18th.

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.