Parr Mcknight Wealth Management Group LLC Takes Position in Invesco QQQ (NASDAQ:QQQ)

Parr Mcknight Wealth Management Group LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,475 shares of the exchange traded fund's stock, valued at approximately $754,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stephens Consulting LLC increased its position in shares of Invesco QQQ by 0.4% during the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock valued at $2,769,000 after purchasing an additional 19 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in 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 boosted 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 period. HighMark Wealth Management LLC increased its position in Invesco QQQ by 5.2% during the fourth quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund's stock valued at $208,000 after acquiring an additional 20 shares during the last quarter. Finally, Providence First Trust Co raised its stake in shares of Invesco QQQ by 3.0% in 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 period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.9%

Invesco QQQ stock opened at $509.24 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The firm has a 50-day moving average price of $474.84 and a 200-day moving average price of $500.92. The firm 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 company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were given 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.

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