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.
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.
Featured Story: Why are percentage gainers important?
Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQ).
Receive News & Ratings for Invesco QQQ Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco QQQ Trust and related companies with MarketBeat.com's FREE daily email newsletter.