Invesco QQQ Trust (NASDAQ:QQQ) Shares Purchased by Rikoon Group LLC

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Rikoon Group LLC raised its holdings in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,993 shares of the exchange traded fund’s stock after buying an additional 928 shares during the period. Invesco QQQ Trust comprises 1.5% of Rikoon Group LLC’s investment portfolio, making the stock its 15th largest position. Rikoon Group LLC’s holdings in Invesco QQQ Trust were worth $4,999,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Concentrum Wealth Management lifted its position in Invesco QQQ Trust by 63.5% during the third quarter. Concentrum Wealth Management now owns 10,248 shares of the exchange traded fund’s stock valued at $2,847,000 after buying an additional 3,979 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Invesco QQQ Trust by 30.8% during the third quarter. Sequoia Financial Advisors LLC now owns 55,454 shares of the exchange traded fund’s stock worth $15,407,000 after purchasing an additional 13,071 shares in the last quarter. JMG Financial Group Ltd. lifted its position in shares of Invesco QQQ Trust by 2.1% during the third quarter. JMG Financial Group Ltd. now owns 2,065 shares of the exchange traded fund’s stock worth $574,000 after purchasing an additional 43 shares in the last quarter. Concorde Asset Management LLC lifted its position in shares of Invesco QQQ Trust by 31.6% during the third quarter. Concorde Asset Management LLC now owns 1,631 shares of the exchange traded fund’s stock worth $454,000 after purchasing an additional 392 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of Invesco QQQ Trust by 1.9% during the third quarter. Ritholtz Wealth Management now owns 248,898 shares of the exchange traded fund’s stock worth $69,154,000 after purchasing an additional 4,652 shares in the last quarter. 42.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ QQQ traded down $4.31 during trading on Monday, reaching $280.43. 3,314,256 shares of the stock were exchanged, compared to its average volume of 49,567,922. The business’s 50-day moving average price is $278.41 and its 200 day moving average price is $252.73. Invesco QQQ Trust has a twelve month low of $164.93 and a twelve month high of $303.50.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 22nd will be given a dividend of $0.388 per share. The ex-dividend date is Monday, September 21st. This represents a $1.55 dividend on an annualized basis and a dividend yield of 0.55%.

Separately, ValuEngine cut shares of Invesco QQQ Trust from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd.

Invesco QQQ Trust 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.

Further Reading: Quiet Period Expirations Explained

Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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