Balanced Wealth Group LLC Buys Shares of 76,361 Invesco QQQ (NASDAQ:QQQ)

Balanced Wealth Group LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 76,361 shares of the exchange traded fund’s stock, valued at approximately $31,271,000. Invesco QQQ makes up about 16.3% of Balanced Wealth Group LLC’s investment portfolio, making the stock its largest holding.

Several other large investors have also modified their holdings of the business. Chevy Chase Trust Holdings LLC increased its position in Invesco QQQ by 8.0% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 4,457 shares of the exchange traded fund’s stock worth $1,597,000 after purchasing an additional 329 shares in the last quarter. Independent Advisor Alliance lifted its holdings in Invesco QQQ by 2.3% in the third quarter. Independent Advisor Alliance now owns 1,743 shares of the exchange traded fund’s stock worth $624,000 after acquiring an additional 40 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Invesco QQQ by 244.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 380,566 shares of the exchange traded fund’s stock worth $136,345,000 after purchasing an additional 270,035 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Invesco QQQ by 7.8% in the 3rd quarter. Brown Advisory Inc. now owns 46,594 shares of the exchange traded fund’s stock worth $16,693,000 after purchasing an additional 3,390 shares during the last quarter. Finally, Ironwood Wealth Management LLC. boosted its holdings in shares of Invesco QQQ by 0.7% during the third quarter. Ironwood Wealth Management LLC. now owns 10,339 shares of the exchange traded fund’s stock valued at $3,704,000 after acquiring an additional 74 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded down $0.26 during trading hours on Wednesday, hitting $440.06. The stock had a trading volume of 24,685,061 shares, compared to its average volume of 45,327,832. The stock’s fifty day simple moving average is $436.66 and its 200 day simple moving average is $414.00. Invesco QQQ has a 1-year low of $321.32 and a 1-year high of $449.34.

Invesco QQQ Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th were paid a $0.5735 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $2.29 annualized dividend and a dividend yield of 0.52%.

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.