MFA Wealth Services Invests $1.84 Million in Invesco QQQ (NASDAQ:QQQ)

MFA Wealth Services purchased a new position in Invesco QQQ (NASDAQ:QQQ) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,600 shares of the exchange traded fund’s stock, valued at approximately $1,841,000. Invesco QQQ comprises about 1.5% of MFA Wealth Services’ investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors also recently made changes to their positions in the stock. Hoese & Co LLP grew its position in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares during the period. Legacy Bridge LLC grew its position in shares of Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares during the period. BNP Paribas purchased a new stake in shares of Invesco QQQ in the third quarter valued at $62,000. Brooklyn Investment Group purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at $69,000. Finally, Ritter Daniher Financial Advisory LLC DE grew its position in shares of Invesco QQQ by 75.9% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after purchasing an additional 63 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ stock opened at $529.63 on Friday. The stock has a 50-day moving average price of $517.20 and a two-hundred day moving average price of $493.09. Invesco QQQ has a 12-month low of $413.07 and a 12-month high of $539.15.

Invesco QQQ Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date was Monday, December 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.