Merriman Wealth Management LLC Buys 1,419 Shares of Invesco QQQ Trust (NASDAQ:QQQ)

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Merriman Wealth Management LLC increased its stake in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 10.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,340 shares of the exchange traded fund’s stock after buying an additional 1,419 shares during the quarter. Merriman Wealth Management LLC’s holdings in Invesco QQQ Trust were worth $4,262,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Walled Lake Planning & Wealth Management LLC increased its position in shares of Invesco QQQ Trust by 414.3% during the 2nd quarter. Walled Lake Planning & Wealth Management LLC now owns 108 shares of the exchange traded fund’s stock worth $27,000 after purchasing an additional 87 shares in the last quarter. First National Bank of South Miami increased its holdings in shares of Invesco QQQ Trust by 300.0% during the second quarter. First National Bank of South Miami now owns 120 shares of the exchange traded fund’s stock worth $30,000 after buying an additional 90 shares in the last quarter. Lipe & Dalton bought a new position in shares of Invesco QQQ Trust in the second quarter valued at approximately $50,000. Lenox Wealth Advisors LLC raised its stake in shares of Invesco QQQ Trust by 96.2% in the second quarter. Lenox Wealth Advisors LLC now owns 306 shares of the exchange traded fund’s stock valued at $76,000 after acquiring an additional 150 shares during the last quarter. Finally, Heritage Wealth Advisors boosted its holdings in shares of Invesco QQQ Trust by 64.1% in the 2nd quarter. Heritage Wealth Advisors now owns 343 shares of the exchange traded fund’s stock worth $74,000 after acquiring an additional 134 shares in the last quarter. 42.99% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Invesco QQQ Trust stock traded down $4.27 during trading on Monday, reaching $280.47. The company’s stock had a trading volume of 38,076,586 shares, compared to its average volume of 49,750,020. The stock has a 50-day moving average price of $278.40 and a two-hundred day moving average price of $254.12. Invesco QQQ Trust has a one year low of $164.93 and a one year high of $303.50.

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

About Invesco QQQ Trust

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.

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

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