Invesco QQQ $QQQ Shares Purchased by Richards Merrill & Peterson Inc.

Key Points

• Richards Merrill & Peterson Inc. increased its shares in Invesco QQQ by 13.3% in Q2, resulting in a total of 15,569 shares valued at approximately $8.6 million, making it the firm's 4th largest holding.
• Invesco QQQ announced a quarterly dividend increase to $0.694 from the previous $0.59, which represents an annualized dividend yield of 0.4%.
• Shares of Invesco QQQ are currently trading at $617.10, having a 12-month range between $402.39 and $618.42.

Richards Merrill & Peterson Inc. boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,569 shares of the exchange traded fund's stock after acquiring an additional 1,828 shares during the quarter. Invesco QQQ comprises 4.1% of Richards Merrill & Peterson Inc.'s holdings, making the stock its 4th largest holding. Richards Merrill & Peterson Inc.'s holdings in Invesco QQQ were worth $8,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Brighton Jones LLC increased its stake in Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares during the last quarter. Wealth Group Ltd. increased its stake in Invesco QQQ by 305.2% during the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund's stock worth $3,010,000 after acquiring an additional 4,835 shares during the last quarter. GAMMA Investing LLC increased its stake in Invesco QQQ by 19.2% during the first quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund's stock worth $1,872,000 after acquiring an additional 643 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ in the first quarter valued at $50,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.1%

Shares of NASDAQ QQQ opened at $617.10 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $618.42. The stock has a fifty day simple moving average of $590.61 and a 200-day simple moving average of $546.26.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a $0.694 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.4%.

Invesco QQQ 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.

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 (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.