Grantvest Financial Group LLC Takes $1.49 Million Position in Invesco QQQ (NASDAQ:QQQ)

Grantvest Financial Group LLC bought a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,905 shares of the exchange traded fund's stock, valued at approximately $1,485,000. Invesco QQQ comprises approximately 1.7% of Grantvest Financial Group LLC's investment portfolio, making the stock its 13th biggest position.S&P 500 & Nasdaq Hit Critical Support—Will Stocks Hold or Fall?A number of other large investors have also recently added to or reduced their stakes in QQQ. Proficio Capital Partners LLC increased its holdings in Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after buying an additional 11,478,188 shares during the period. Toronto Dominion Bank boosted its stake in Invesco QQQ by 13.0% in 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 buying an additional 488,815 shares in the last quarter. Strategic Financial Concepts LLC raised 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. PNC Financial Services Group Inc. lifted its holdings in shares of Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after acquiring an additional 27,115 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in shares of Invesco QQQ by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock worth $1,239,886,000 after purchasing an additional 52,235 shares in the last quarter. Institutional investors own 44.58% of the company's stock. Invesco QQQ Trading Up 0.3 %Shares of Invesco QQQ stock opened at $480.84 on Monday. The stock has a market capitalization of $303.05 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $540.81. The firm's 50-day moving average price is $511.30 and its two-hundred day moving average price is $504.45. Invesco QQQ Profile (Free Report)Dow Jones: A Relevant Benchmark or a Relic of the Past?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.Further ReadingFive stocks we like better than Invesco QQQDo ETFs Pay Dividends? What You Need to KnowRising E-Commerce Sales May Spark a Stock Breakout—What to Buy3 Fintech Stocks With Good 2021 ProspectsChinese Fintech FinVolution: Buy, Sell, or Hold?How to Calculate Return on Investment (ROI)AbbVie Stock Boosts Portfolios With Entry Into Weight Loss MarketWant to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).Holiday Cheer or Market Fear: Navigating the Year-End RallyThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Invesco QQQ Right Now?Before you consider Invesco QQQ, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Invesco QQQ wasn't on the list.While Invesco QQQ currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here