Invesco QQQ $QQQ Shares Acquired by Merit Financial Group LLC

Key Points

• Merit Financial Group LLC has increased its stake in Invesco QQQ by 4.0%, now holding 166,065 shares worth approximately $91.6 million.
• Recent filings reveal that a significant number of institutional investors, including Goldman Sachs Group Inc., have drastically raised their positions in Invesco QQQ.
• Invesco QQQ recently announced a quarterly dividend increase, now set at $0.694 per share, representing an annual yield of 0.5%.

Merit Financial Group LLC increased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,065 shares of the exchange traded fund's stock after buying an additional 6,329 shares during the period. Invesco QQQ comprises approximately 1.0% of Merit Financial Group LLC's holdings, making the stock its 21st biggest holding. Merit Financial Group LLC's holdings in Invesco QQQ were worth $91,608,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QQQ. Kingstone Capital Partners Texas LLC boosted its stake in shares of Invesco QQQ by 704,593.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock valued at $37,299,340,000 after buying an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after acquiring an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new position in Invesco QQQ during the 1st quarter valued at $2,775,904,000. Spear Holdings RSC Ltd bought a new position in Invesco QQQ during the 1st quarter valued at $474,600,000. Finally, Altimeter Capital Management LP acquired a new position in Invesco QQQ during the 1st quarter worth $463,293,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ opened at $607.71 on Tuesday. The company has a 50-day moving average of $580.65 and a 200-day moving average of $533.42. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $609.36.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued a $0.694 dividend. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 22nd.

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.

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