M Wealth Management LLC Buys Shares of 1,244 Invesco QQQ (NASDAQ:QQQ)

M Wealth Management LLC purchased a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,244 shares of the exchange traded fund's stock, valued at approximately $636,000. Invesco QQQ makes up approximately 0.6% of M Wealth Management LLC's portfolio, making the stock its 23rd largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hoese & Co LLP boosted its stake in Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after purchasing an additional 20 shares during the last quarter. Legacy Bridge LLC boosted its position in shares of Invesco QQQ by 60.0% during the third 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 last quarter. BNP Paribas bought a new stake in Invesco QQQ during the third quarter worth $62,000. Brooklyn Investment Group purchased a new position in Invesco QQQ during the 4th quarter worth $69,000. Finally, Ritter Daniher Financial Advisory LLC DE grew its stake in shares of Invesco QQQ by 75.9% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund's stock worth $71,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded down $0.76 on Friday, hitting $522.29. The stock had a trading volume of 38,747,058 shares, compared to its average volume of 30,541,316. Invesco QQQ has a 12-month low of $413.07 and a 12-month high of $539.15. The business has a 50 day moving average of $519.55 and a 200 day moving average of $494.13.

Invesco QQQ Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid 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.