Palacios Wealth Management LLC Takes $763,000 Position in Invesco QQQ (NASDAQ:QQQ)

Palacios Wealth Management LLC bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,482 shares of the exchange traded fund’s stock, valued at approximately $763,000. Invesco QQQ makes up about 0.8% of Palacios Wealth Management LLC’s investment portfolio, making the stock its 25th largest holding.

A number of other large investors have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in shares of Invesco QQQ by 46,491.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after purchasing an additional 488,815 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after acquiring an additional 4,105,389 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its stake in Invesco QQQ by 0.8% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 1,840,025 shares of the exchange traded fund’s stock worth $940,676,000 after acquiring an additional 13,772 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Invesco QQQ by 0.3% during the third quarter. Stifel Financial Corp now owns 871,333 shares of the exchange traded fund’s stock worth $425,324,000 after acquiring an additional 2,572 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $535.90 on Friday. Invesco QQQ has a one year low of $413.07 and a one year high of $539.15. The company’s 50-day simple moving average is $521.86 and its 200 day simple moving average is $497.08.

Invesco QQQ Announces Dividend

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