Fairvoy Private Wealth LLC Acquires Position in Invesco QQQ

Fairvoy Private Wealth LLC has taken a significant step in its investment strategy by acquiring a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the fourth quarter, as disclosed in a recent filing with the Securities & Exchange Commission. The firm has purchased 13,237 shares of the exchange-traded fund (ETF), with an estimated total value of around $6,767,000. This investment now represents approximately 1.8% of Fairvoy Private Wealth LLC's overall investment portfolio, positioning Invesco QQQ as the institution's 15th largest holding.

Changes in Institutional Holdings

A plethora of other institutional investors have been adjusting their stakes in Invesco QQQ as well. In the third quarter, O Connor Financial Group LLC increased its holdings by 6.2%, acquiring an additional 1,000 shares to reach a total of 17,065 shares valued at $8,329,000. Similarly, Marcum Wealth LLC raised its investment by 1.7%, bringing its total to 18,961 shares worth $9,254,000 after adding 308 shares during the same period. Additionally, Wedmont Private Capital reported a 0.7% increase, resulting in ownership of 18,848 shares worth $9,087,000 after acquiring 140 more shares. Sanibel Captiva Trust Company Inc. experienced an 11.2% growth in its stake, owning 5,483 shares valued at $2,676,000 after gaining 553 shares last quarter. Meanwhile, Patten Group Inc. saw a 3.3% increase, obtaining a total of 1,539 shares worth $751,000 after adding 49 shares. Overall, institutional investors currently hold 44.58% of the shares in Invesco QQQ.

Invesco QQQ Share Performance

As of the most recent trading day, Invesco QQQ opened at $529.60. The ETF has experienced a range of price fluctuations over the past year, hitting a low of $413.07 and a high of $539.15. The current 50-day moving average price stands at $520.51, while the 200-day moving average price is $495.05.

Dividend Announcement

Recently, Invesco QQQ also announced a dividend, which was disbursed on December 31st. Shareholders who were on record as of December 23rd received a dividend of $0.8347. The ex-dividend date was also on December 23rd. This move underscores the ETF's commitment to providing returns to its investors.

About Invesco QQQ

The PowerShares QQQ Trust, Series 1 is a unit investment trust that presents securities known as Nasdaq-100 Index Tracking Stock. The primary objective of this trust is to mirror the price and yield performance of the Nasdaq-100 Index. This investment vehicle allows investors to purchase units that represent beneficial interests in the underlying portfolio of securities, which aligns closely with the Nasdaq-100 Index's component securities.

Investment, ETF, Shares