IMG Wealth Management Inc. Buys New Position in Invesco QQQ (NASDAQ:QQQ)

IMG Wealth Management Inc. bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,039 shares of the exchange traded fund's stock, valued at approximately $6,155,000. Invesco QQQ accounts for 5.7% of IMG Wealth Management Inc.'s holdings, making the stock its 5th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. PayPay Securities Corp lifted its position in Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after buying an additional 36 shares during the period. Roxbury Financial LLC purchased a new position in shares of Invesco QQQ in the 4th quarter worth about $37,000. Hoese & Co LLP raised its holdings in shares of Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after purchasing an additional 20 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of Invesco QQQ in the 4th quarter worth about $51,000. Finally, Legacy Bridge LLC raised its holdings in shares of Invesco QQQ by 60.0% in 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. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 2.4 %

Shares of Invesco QQQ stock traded up $11.32 during trading hours on Friday, reaching $479.66. The stock had a trading volume of 43,464,229 shares, compared to its average volume of 34,911,953. The firm has a 50 day simple moving average of $514.89 and a two-hundred day simple moving average of $504.08. The firm has a market capitalization of $302.59 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11. Invesco QQQ has a 1 year low of $413.07 and a 1 year high of $540.81.

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Invesco QQQ Announces Dividend

The company also recently disclosed 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.