Invesco QQQ $QQQ Stake Lifted by Richmond Brothers Inc.

Richmond Brothers Inc. boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 216.0% in the second quarter, according to the company in its most recent disclosure with the SEC. 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 comprises 24.9% of Richmond Brothers Inc.’s portfolio, making the stock its largest position. Richmond Brothers Inc.’s holdings in Invesco QQQ were worth $38,026,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of QQQ. Compass Financial Services Inc increased its holdings in shares of Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock worth $2,345,000 after buying an additional 19 shares during the last quarter. Vermillion Wealth Management Inc. grew its position in Invesco QQQ by 4.2% during the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock valued at $271,000 after acquiring an additional 20 shares during the period. Barrett & Company Inc. increased its stake in Invesco QQQ by 14.9% during the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock worth $85,000 after acquiring an additional 20 shares during the last quarter. waypoint wealth counsel raised its holdings in shares of Invesco QQQ by 0.6% in the 2nd quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund’s stock worth $1,964,000 after purchasing an additional 20 shares during the period. Finally, Investment Advisory Group LLC lifted its stake in shares of Invesco QQQ by 0.4% in the 2nd quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund’s stock valued at $3,158,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 1.0%

QQQ opened at $614.98 on Thursday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $637.01. The company has a 50 day moving average of $604.54 and a two-hundred day moving average of $563.31.

Invesco QQQ Increases Dividend

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

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.