Richardson Capital Management LLC Has $1.13 Million Position in Invesco QQQ $QQQ

Richardson Capital Management LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,043 shares of the exchange traded fund’s stock after selling 93 shares during the quarter. Invesco QQQ makes up about 0.6% of Richardson Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Richardson Capital Management LLC’s holdings in Invesco QQQ were worth $1,127,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of Invesco QQQ during the 2nd quarter worth about $41,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ during the 1st quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ during the 1st quarter worth about $51,000. Blume Capital Management Inc. lifted its stake in shares of Invesco QQQ by 105.0% during the 1st 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 last quarter. Finally, Atlantic Private Wealth LLC lifted its stake in shares of Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $611.44 on Thursday. The firm has a 50-day moving average of $582.26 and a 200-day moving average of $534.45. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $611.75.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be paid a $0.694 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd. This represents a $2.78 annualized dividend and a yield of 0.5%.

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.