Rainey & Randall Wealth Advisors Inc. Has $9.12 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Rainey & Randall Wealth Advisors Inc. grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,838 shares of the exchange traded fund’s stock after acquiring an additional 752 shares during the period. Invesco QQQ accounts for approximately 1.8% of Rainey & Randall Wealth Advisors Inc.’s investment portfolio, making the stock its 13th biggest holding. Rainey & Randall Wealth Advisors Inc.’s holdings in Invesco QQQ were worth $9,120,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Invesco QQQ by 159.6% during the 4th quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock valued at $1,712,000 after acquiring an additional 2,059 shares during the period. Principal Financial Group Inc. increased its stake in Invesco QQQ by 141.0% in the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after purchasing an additional 11,351 shares in the last quarter. Socha Financial Group LLC raised its holdings in shares of Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares during the period. NRI Wealth Management LC bought a new position in shares of Invesco QQQ during the 4th quarter worth about $28,729,000. Finally, Garden State Investment Advisory Services LLC grew its stake in shares of Invesco QQQ by 13.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after buying an additional 3,581 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 2.1 %

QQQ stock opened at $526.08 on Friday. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $540.81. The stock’s 50 day simple moving average is $523.39 and its 200 day simple moving average is $501.12.

Invesco QQQ Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders 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 Company 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.