Invesco QQQ $QQQ Holdings Raised by Richards Merrill & Peterson Inc.

Richards Merrill & Peterson Inc. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 13.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,569 shares of the exchange traded fund’s stock after buying an additional 1,828 shares during the quarter. Invesco QQQ makes up approximately 4.1% of Richards Merrill & Peterson Inc.’s portfolio, making the stock its 4th biggest position. Richards Merrill & Peterson Inc.’s holdings in Invesco QQQ were worth $8,588,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in QQQ. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Invesco QQQ during the second quarter worth approximately $30,000. Marshall & Sullivan Inc. WA purchased a new stake in shares of Invesco QQQ during the second quarter worth approximately $41,000. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ during the first quarter worth approximately $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth approximately $51,000. Finally, Blume Capital Management Inc. increased its stake in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after buying an additional 2,536 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 1.1%

Shares of NASDAQ QQQ opened at $617.10 on Friday. The business has a 50-day moving average of $590.61 and a two-hundred day moving average of $546.26. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $618.42.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.694 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%.

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.