Riggs Capital Management LLC Takes $2.97 Million Position in Invesco QQQ (NASDAQ:QQQ)

Riggs Capital Management LLC purchased a new position in Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,804 shares of the exchange traded fund’s stock, valued at approximately $2,967,000. Invesco QQQ comprises about 2.9% of Riggs Capital Management LLC’s holdings, making the stock its 9th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. PayPay Securities Corp increased its holdings in shares of Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. Roxbury Financial LLC acquired a new position in Invesco QQQ in the fourth quarter worth $37,000. Hoese & Co LLP increased its stake in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $51,000. Finally, Frazier Financial Advisors LLC lifted its position in shares of Invesco QQQ by 1,288.9% in the 4th quarter. Frazier Financial Advisors LLC now owns 125 shares of the exchange traded fund’s stock worth $64,000 after buying an additional 116 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $468.94 on Monday. Invesco QQQ has a one year low of $413.07 and a one year high of $540.81. The company has a 50-day simple moving average of $508.43 and a 200-day simple moving average of $505.35. The firm has a market capitalization of $295.55 billion, a PE ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be paid a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

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.