Mascagni Wealth Management Inc. Takes Position in Invesco QQQ (NASDAQ:QQQ)

Mascagni Wealth Management Inc. purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,211 shares of the exchange traded fund's stock, valued at approximately $1,131,000. Invesco QQQ comprises about 1.0% of Mascagni Wealth Management Inc.'s investment portfolio, making the stock its 29th largest holding.

Other institutional investors also recently modified their holdings of the company. Stephens Consulting LLC raised its holdings 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 purchasing an additional 19 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Invesco QQQ by 1.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock worth $559,000 after buying an additional 20 shares during the period. RAM Investment Partners LLC raised its stake in Invesco QQQ by 1.7% during 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. HighMark Wealth Management LLC lifted its holdings in Invesco QQQ by 5.2% in the fourth quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund's stock valued at $208,000 after buying an additional 20 shares during the period. Finally, Providence First Trust Co boosted its position in Invesco QQQ by 3.0% during the fourth quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund's stock valued at $346,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.4%

Invesco QQQ stock traded down $2.31 during trading hours on Wednesday, reaching $518.91. 44,971,575 shares of the company's stock were exchanged, compared to its average volume of 37,485,085. The firm's 50 day simple moving average is $477.01 and its 200 day simple moving average is $501.03. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The firm has a market capitalization of $325.17 billion, a PE ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently disclosed 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.