Opes Wealth Management LLC Takes $248,000 Position in Invesco QQQ (NASDAQ:QQQ)

Opes Wealth Management LLC bought a new position in Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 605 shares of the exchange traded fund’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Red Tortoise LLC raised its position in Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after acquiring an additional 74 shares in the last quarter. Friedenthal Financial bought a new position in Invesco QQQ during the fourth quarter valued at approximately $41,000. Bear Mountain Capital Inc. bought a new position in Invesco QQQ during the fourth quarter valued at approximately $42,000. Core Wealth Advisors Inc. raised its position in Invesco QQQ by 33.3% during the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock valued at $43,000 after acquiring an additional 30 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Invesco QQQ during the second quarter valued at approximately $44,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ traded down $2.43 during midday trading on Thursday, hitting $423.41. 46,045,029 shares of the company’s stock traded hands, compared to its average volume of 45,625,719. The stock’s fifty day simple moving average is $438.24 and its 200-day simple moving average is $407.40. Invesco QQQ has a one year low of $309.89 and a one year high of $449.34.

Invesco QQQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be paid a $0.5735 dividend. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, March 18th.

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.