Verus Capital Partners LLC Increases Stake in Invesco QQQ

Verus Capital Partners LLC has increased its stake in Invesco QQQ (NASDAQ:QQQ) by 4.5% during the fourth quarter, according to a recent 13F filing with the Securities and Exchange Commission. Following this purchase, the firm now holds 28,279 shares of the exchange-traded fund (ETF), after having acquired an additional 1,216 shares during the quarter. Invesco QQQ represents 1.3% of Verus Capital Partners LLC's overall investment portfolio, ranking as their 12th largest holding. The total value of Verus’s holdings in Invesco QQQ was approximately $14,457,000 at the conclusion of the previous quarter.

A variety of other institutional investors and hedge funds have also altered their positions in Invesco QQQ recently. For instance, Stephens Consulting LLC raised its holdings by 0.4% in the fourth quarter, now owning 5,416 shares valued at $2,769,000 after adding 19 shares. Northeast Investment Management increased its stake by 0.6% during the third quarter, holding 3,476 shares worth $1,697,000 after acquiring 20 additional shares. Similarly, Planning Capital Management Corp boosted its stake by 7.1% in the third quarter and now owns 300 shares valued at $146,000. Cardinal Point Capital Management ULC also increased its position by 0.5%, owning 3,902 shares worth $1,995,000 after buying another 20 shares. Lastly, Hoese & Co LLP significantly increased its position by 32.3%, now holding 82 shares valued at $42,000 after their recent purchase. Altogether, institutional investors and hedge funds control 44.58% of Invesco QQQ's stock.

Invesco QQQ Stock Overview

As of Friday, shares of NASDAQ QQQ opened at $500.27. The stock has experienced a one-year low of $413.07 and a one-year high of $540.81. The average price over the last 50 days is $522.25, while the 200-day average stands at $502.61. Invesco QQQ currently boasts a market capitalization of $315.30 billion, a price-to-earnings ratio of 33.43, and a beta of 1.11.

Dividend Announcement

Invesco QQQ also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders who were on record as of Monday, December 23rd, received a dividend of $0.8347 per share, with the ex-dividend date also falling on December 23rd.

Invesco QQQ Profile

The PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities referred to as Nasdaq-100 Index Tracking Stock. Its investment goal is to provide results that mirror the price and yield performance of the Nasdaq-100 Index. This Trust allows investors to purchase units of beneficial interest, representing proportionate undivided interests in the securities portfolio maintaining similar weightings to the Nasdaq-100 Index.

investment, ETF, portfolio