Morey & Quinn Wealth Partners LLC Makes New $342,000 Investment in Invesco QQQ (NASDAQ:QQQ)

Morey & Quinn Wealth Partners LLC purchased a new position in Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 670 shares of the exchange traded fund’s stock, valued at approximately $342,000.

Other institutional investors have also recently made changes to their positions in the company. Stephens Consulting LLC grew its stake in Invesco QQQ by 0.4% during the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock worth $2,769,000 after buying an additional 19 shares during the last quarter. Cardinal Point Capital Management ULC raised its holdings in Invesco QQQ by 0.5% during the fourth quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock worth $1,995,000 after purchasing an additional 20 shares in the last quarter. Hoese & Co LLP lifted its holdings 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 during the period. Farmers & Merchants Investments Inc. boosted its position in shares of Invesco QQQ by 1.9% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock valued at $559,000 after purchasing an additional 20 shares in the last quarter. Finally, RAM Investment Partners LLC grew its position in Invesco QQQ by 1.7% in the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund’s stock worth $597,000 after buying an additional 20 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ stock opened at $493.46 on Wednesday. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $540.81. The firm has a market capitalization of $311.00 billion, a P/E ratio of 30.74 and a beta of 1.11. The company’s 50 day simple moving average is $510.77 and its 200-day simple moving average is $504.97.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be issued a $0.7157 dividend. The ex-dividend date of this dividend is Monday, March 24th.

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.