Morling Financial Advisors LLC Raises Stake in Invesco QQQ (NASDAQ:QQQ)

Morling Financial Advisors LLC increased its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 143.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,054 shares of the exchange traded fund’s stock after buying an additional 621 shares during the period. Morling Financial Advisors LLC’s holdings in Invesco QQQ were worth $539,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SOA Wealth Advisors LLC. raised its holdings in shares of Invesco QQQ by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock valued at $8,477,000 after buying an additional 46 shares in the last quarter. Pettinga Financial Advisors LLC raised its holdings in shares of Invesco QQQ by 13.6% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 15,475 shares of the exchange traded fund’s stock valued at $7,553,000 after buying an additional 1,854 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Invesco QQQ by 2.1% during the 3rd quarter. Assetmark Inc. now owns 26,866 shares of the exchange traded fund’s stock valued at $13,112,000 after buying an additional 556 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Invesco QQQ during the 3rd quarter valued at about $91,000. Finally, Ridgecrest Wealth Partners LLC raised its holdings in shares of Invesco QQQ by 5.3% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 4,096 shares of the exchange traded fund’s stock valued at $1,999,000 after buying an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 3.9 %

Shares of NASDAQ QQQ opened at $472.73 on Tuesday. The stock’s 50-day moving average is $517.98 and its 200 day moving average is $504.13. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $540.81. The stock has a market cap of $297.94 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11.

Invesco QQQ Dividend Announcement

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

About Invesco QQQ

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.