M Wealth Management LLC Takes $636,000 Position in Invesco QQQ (NASDAQ:QQQ)

M Wealth Management LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,244 shares of the exchange traded fund’s stock, valued at approximately $636,000. Invesco QQQ comprises about 0.6% of M Wealth Management LLC’s holdings, making the stock its 23rd biggest position.

Other large investors also recently bought and sold shares of the company. Hoese & Co LLP raised its stake in shares of 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 acquiring an additional 20 shares in the last quarter. Legacy Bridge LLC increased its holdings in Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares during the period. BNP Paribas bought a new stake in Invesco QQQ during the 3rd quarter valued at $62,000. Brooklyn Investment Group purchased a new stake in shares of Invesco QQQ in the 4th quarter worth $69,000. Finally, Ritter Daniher Financial Advisory LLC DE grew its position in shares of Invesco QQQ by 75.9% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock worth $71,000 after buying an additional 63 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 Invesco QQQ stock opened at $523.05 on Friday. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $539.15. The stock’s fifty day moving average price is $518.86 and its 200-day moving average price is $493.75.

Invesco QQQ Dividend Announcement

The firm also recently declared 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 of this dividend was Monday, December 23rd.

Invesco QQQ 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.