IMG Wealth Management Inc. Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

IMG Wealth Management Inc. purchased a new stake in Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,039 shares of the exchange traded fund’s stock, valued at approximately $6,155,000. Invesco QQQ accounts for about 5.7% of IMG Wealth Management Inc.’s investment portfolio, making the stock its 5th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Proficio Capital Partners LLC raised its position in shares of Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after buying an additional 4,105,389 shares during the last quarter. Artemis Wealth Advisors LLC grew its stake in shares of Invesco QQQ by 1,337.4% during the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock valued at $423,470,000 after purchasing an additional 895,277 shares during the period. Toronto Dominion Bank grew its position in shares of Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after acquiring an additional 488,815 shares during the period. Finally, Cibc World Market Inc. increased its holdings in Invesco QQQ by 90.0% in the 4th quarter. Cibc World Market Inc. now owns 686,117 shares of the exchange traded fund’s stock worth $350,764,000 after acquiring an additional 324,948 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ stock opened at $479.66 on Friday. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $540.81. The business has a 50 day simple moving average of $514.89 and a two-hundred day simple moving average of $503.85. The company has a market capitalization of $302.59 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

Invesco QQQ Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date 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.