JMG Financial Group Ltd. Purchases 1,238 Shares of Invesco QQQ (NASDAQ:QQQ)

JMG Financial Group Ltd. boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 19.5% in the 4th quarter, HoldingsChannel reports. The firm owned 7,580 shares of the exchange traded fund’s stock after buying an additional 1,238 shares during the period. JMG Financial Group Ltd.’s holdings in Invesco QQQ were worth $3,104,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in QQQ. Madison Park Capital Advisors LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth about $4,064,000. Schnieders Capital Management LLC boosted its holdings in shares of Invesco QQQ by 5.1% in the fourth quarter. Schnieders Capital Management LLC now owns 38,613 shares of the exchange traded fund’s stock valued at $15,813,000 after buying an additional 1,886 shares during the period. Fountainhead AM LLC boosted its holdings in shares of Invesco QQQ by 12.3% in the fourth quarter. Fountainhead AM LLC now owns 1,975 shares of the exchange traded fund’s stock valued at $809,000 after buying an additional 217 shares during the period. Cutter & CO Brokerage Inc. boosted its holdings in shares of Invesco QQQ by 0.8% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 5,257 shares of the exchange traded fund’s stock valued at $2,153,000 after buying an additional 44 shares during the period. Finally, GAMMA Investing LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $167,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 1.6 %

Shares of Invesco QQQ stock traded down $6.82 on Thursday, hitting $419.69. The company had a trading volume of 8,477,434 shares, compared to its average volume of 45,527,191. Invesco QQQ has a twelve month low of $311.34 and a twelve month high of $449.34. The stock has a 50-day moving average of $437.07 and a 200-day moving average of $409.56.

Invesco QQQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. This represents a $2.29 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, March 18th.

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.