MGB Wealth Management LLC Buys 895 Shares of Invesco QQQ $QQQ

MGB Wealth Management LLC raised its stake in Invesco QQQ (NASDAQ:QQQFree Report) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,432 shares of the exchange traded fund’s stock after buying an additional 895 shares during the quarter. Invesco QQQ accounts for about 5.4% of MGB Wealth Management LLC’s portfolio, making the stock its 2nd largest position. MGB Wealth Management LLC’s holdings in Invesco QQQ were worth $18,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Hyposwiss Advisors SA acquired a new position in Invesco QQQ in the fourth quarter valued at about $6,717,000. Gotham Asset Management LLC raised its position in shares of Invesco QQQ by 0.5% during the fourth quarter. Gotham Asset Management LLC now owns 103,627 shares of the exchange traded fund’s stock worth $63,659,000 after purchasing an additional 547 shares during the period. Evolve Private Wealth LLC acquired a new stake in shares of Invesco QQQ during the fourth quarter worth about $5,422,000. Engineers Gate Manager LP raised its position in shares of Invesco QQQ by 54.6% during the fourth quarter. Engineers Gate Manager LP now owns 399,690 shares of the exchange traded fund’s stock worth $245,534,000 after purchasing an additional 141,130 shares during the period. Finally, Chicago Wealth Management Inc. raised its position in shares of Invesco QQQ by 3.0% during the fourth quarter. Chicago Wealth Management Inc. now owns 16,730 shares of the exchange traded fund’s stock worth $10,277,000 after purchasing an additional 484 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.0%

NASDAQ QQQ opened at $722.51 on Thursday. The stock’s 50-day moving average is $689.67 and its 200-day moving average is $637.91. Invesco QQQ has a one year low of $523.65 and a one year high of $748.65.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were given a dividend of $0.7328 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.93 dividend on an annualized basis and a dividend yield of 0.4%.

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About Invesco QQQ

(Free Report)

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.

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Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

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