Invesco QQQ $QQQ is Richmond Brothers Inc.’s Largest Position

Richmond Brothers Inc. boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 216.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 68,936 shares of the exchange traded fund’s stock after purchasing an additional 47,123 shares during the quarter. Invesco QQQ makes up approximately 24.9% of Richmond Brothers Inc.’s portfolio, making the stock its biggest holding. Richmond Brothers Inc.’s holdings in Invesco QQQ were worth $38,026,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in QQQ. Brighton Jones LLC boosted its position in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after purchasing an additional 4,989 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after purchasing an additional 176 shares during the period. Wealth Group Ltd. grew its position in Invesco QQQ by 305.2% in the 1st quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock valued at $3,010,000 after buying an additional 4,835 shares in the last quarter. Guardian Wealth Advisors LLC raised its position in shares of Invesco QQQ by 1.1% during the 1st quarter. Guardian Wealth Advisors LLC now owns 17,116 shares of the exchange traded fund’s stock worth $8,026,000 after buying an additional 179 shares in the last quarter. Finally, Cable Hill Partners LLC raised its stake in shares of Invesco QQQ by 112.0% in the 1st quarter. Cable Hill Partners LLC now owns 863 shares of the exchange traded fund’s stock worth $410,000 after buying an additional 456 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $614.98 on Thursday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $637.01. The company has a 50-day moving average of $604.54 and a 200-day moving average of $563.31.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 22nd were paid a $0.694 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59.

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.