Grantvest Financial Group LLC Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Grantvest Financial Group LLC bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,905 shares of the exchange traded fund’s stock, valued at approximately $1,485,000. Invesco QQQ accounts for approximately 1.7% of Grantvest Financial Group LLC’s investment portfolio, making the stock its 13th largest holding.

Other hedge funds also recently modified their holdings of the company. Stephens Consulting LLC boosted its stake in shares of Invesco QQQ by 0.4% in the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock worth $2,769,000 after buying an additional 19 shares during the last quarter. Cardinal Point Capital Management ULC boosted its position in Invesco QQQ by 0.5% in the fourth quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock worth $1,995,000 after purchasing an additional 20 shares during the last quarter. Hoese & Co LLP increased its position in shares of Invesco QQQ by 32.3% during the 4th 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 last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of Invesco QQQ by 1.9% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock worth $559,000 after purchasing an additional 20 shares during the period. Finally, RAM Investment Partners LLC boosted its holdings in shares of Invesco QQQ by 1.7% in the 4th quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund’s stock worth $597,000 after buying an additional 20 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $480.84 on Monday. The company has a market capitalization of $303.05 billion, a PE ratio of 30.74 and a beta of 1.11. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $540.81. The company has a 50-day simple moving average of $511.30 and a 200 day simple moving average of $504.45.

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.