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

IMG Wealth Management Inc. bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to its most recent 13F filing with the 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 approximately 5.7% of IMG Wealth Management Inc.'s investment portfolio, making the stock its 5th largest holding.

Other institutional investors have also recently bought and sold shares of the company. PayPay Securities Corp grew its stake in Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after purchasing an additional 36 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at about $37,000. Hoese & Co LLP raised its position in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after buying an additional 20 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $51,000. Finally, Legacy Bridge LLC increased its holdings in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund's stock valued at $59,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ opened at $479.66 on Friday. The business has a 50-day moving average of $514.89 and a 200-day moving average of $503.85. Invesco QQQ has a 1 year low of $413.07 and a 1 year high of $540.81. 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 declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

About Invesco QQQ

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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