Peak Retirement Planning Inc. Acquires New Position in Invesco QQQ (NASDAQ:QQQ)

Peak Retirement Planning Inc. acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,297 shares of the exchange traded fund’s stock, valued at approximately $6,761,000. Invesco QQQ makes up about 4.5% of Peak Retirement Planning Inc.’s investment portfolio, making the stock its 3rd largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PayPay Securities Corp grew 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 valued at $25,000 after purchasing an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $36,000. Roxbury Financial LLC purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $51,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ opened at $509.24 on Friday. The company’s 50 day moving average price is $474.84 and its 200 day moving average price is $500.92. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The company has a market capitalization of $319.12 billion, a PE ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were paid a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

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.