Life Line Wealth Management LLC Invests $55.03 Million in Invesco QQQ (NASDAQ:QQQ)

Life Line Wealth Management LLC purchased a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 107,643 shares of the exchange traded fund's stock, valued at approximately $55,030,000. Invesco QQQ comprises about 19.6% of Life Line Wealth Management LLC's holdings, making the stock its largest holding.

Other institutional investors have also recently made changes to their positions in the company. PayPay Securities Corp grew its holdings in shares of Invesco QQQ by 276.9% during the 4th 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 during the last quarter. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ in the 4th quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ in the 4th quarter worth about $36,000. Roxbury Financial LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter worth about $37,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter worth about $51,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ QQQ traded down $3.24 during trading hours on Friday, reaching $516.69. 67,585,697 shares of the company's stock traded hands, compared to its average volume of 37,676,372. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The firm has a market cap of $323.78 billion, a PE ratio of 30.62 and a beta of 1.11. The firm has a 50-day simple moving average of $478.06 and a 200 day simple moving average of $500.97.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were given a dividend of $0.7157 per share. The ex-dividend date 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.