Invesco QQQ (NASDAQ:QQQ) is MGB Wealth Management LLC’s 2nd Largest Position

MGB Wealth Management LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 9.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 27,991 shares of the exchange traded fund’s stock after buying an additional 2,312 shares during the quarter. Invesco QQQ comprises approximately 4.4% of MGB Wealth Management LLC’s portfolio, making the stock its 2nd largest holding. MGB Wealth Management LLC’s holdings in Invesco QQQ were worth $14,323,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. GAMMA Investing LLC grew its holdings in Invesco QQQ by 159.6% during the 4th quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock valued at $1,712,000 after purchasing an additional 2,059 shares in the last quarter. Principal Financial Group Inc. boosted its position in Invesco QQQ by 141.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after buying an additional 11,351 shares during the last quarter. Socha Financial Group LLC grew its stake in shares of Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after acquiring an additional 2,171 shares in the last quarter. NRI Wealth Management LC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $28,729,000. Finally, Garden State Investment Advisory Services LLC lifted its stake in shares of Invesco QQQ by 13.1% in the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock worth $15,169,000 after acquiring an additional 3,581 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $528.30 on Thursday. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $539.15. The business has a 50 day moving average price of $521.76 and a two-hundred day moving average price of $496.86.

Invesco QQQ Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 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.