MGB Wealth Management LLC Has $12.53 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

MGB Wealth Management LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 5.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 25,679 shares of the exchange traded fund’s stock after selling 1,497 shares during the period. Invesco QQQ comprises 4.5% of MGB Wealth Management LLC’s investment portfolio, making the stock its 2nd biggest position. MGB Wealth Management LLC’s holdings in Invesco QQQ were worth $12,529,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new stake in Invesco QQQ in the 1st quarter worth about $28,000. Mechanics Financial Corp bought a new stake in Invesco QQQ in the 2nd quarter worth about $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $40,000. CGC Financial Services LLC grew its position in shares of Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC grew its position in shares of Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 103 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $505.79 on Friday. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58. The firm has a 50 day moving average price of $493.08 and a 200-day moving average price of $476.93.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Monday, September 23rd.

Invesco QQQ Company 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.