Ackerman Asset Management LLC Makes New $5.41 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Ackerman Asset Management LLC bought a new position in Invesco QQQ (NASDAQ:QQQ) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,540 shares of the exchange traded fund’s stock, valued at approximately $5,411,000. Invesco QQQ makes up about 4.9% of Ackerman Asset Management LLC’s portfolio, making the stock its 5th largest holding.

Several other large investors also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC increased its position in shares of Invesco QQQ by 8.2% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund’s stock worth $138,000 after purchasing an additional 20 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its position in Invesco QQQ by 0.3% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund’s stock valued at $3,080,000 after acquiring an additional 20 shares in the last quarter. Willis Johnson & Associates Inc. increased its position in Invesco QQQ by 2.6% in the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund’s stock valued at $416,000 after acquiring an additional 21 shares in the last quarter. MTM Investment Management LLC increased its position in Invesco QQQ by 1.6% in the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock valued at $613,000 after acquiring an additional 21 shares in the last quarter. Finally, Cutler Investment Counsel LLC increased its position in Invesco QQQ by 1.4% in the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock valued at $710,000 after acquiring an additional 21 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $568.02 on Thursday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $572.11. The firm has a 50-day moving average price of $542.10 and a two-hundred day moving average price of $509.98.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, June 23rd.

Invesco QQQ Company 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.