Goldenstone Wealth Management LLC Makes New $542,000 Investment in Invesco QQQ $QQQ

Goldenstone Wealth Management LLC purchased a new position in Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 882 shares of the exchange traded fund’s stock, valued at approximately $542,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Goodman Advisory Group LLC bought a new position in Invesco QQQ in the 3rd quarter worth approximately $25,000. Shcp LLC bought a new position in Invesco QQQ in the 3rd quarter worth approximately $27,000. Rachor Investment Advisory Services LLC bought a new position in Invesco QQQ in the 4th quarter worth approximately $29,000. Measured Wealth Private Client Group LLC bought a new position in Invesco QQQ in the 3rd quarter worth approximately $40,000. Finally, Morgan Dempsey Capital Management LLC boosted its stake in Invesco QQQ by 45.5% in the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 80 shares of the exchange traded fund’s stock worth $48,000 after purchasing an additional 25 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 1.7%

NASDAQ QQQ opened at $713.15 on Thursday. Invesco QQQ has a one year low of $505.58 and a one year high of $722.03. The stock has a 50 day moving average price of $634.47 and a 200-day moving average price of $621.80.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were given a dividend of $0.7328 per share. This represents a $2.93 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, March 23rd.

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.