Meridian Wealth Advisors LLC Has $1.18 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Meridian Wealth Advisors LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 36.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,505 shares of the exchange traded fund's stock after purchasing an additional 667 shares during the period. Meridian Wealth Advisors LLC's holdings in Invesco QQQ were worth $1,175,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. NWI Management LP lifted its stake in Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after acquiring an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC increased its position in Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after acquiring an additional 1,868,580 shares during the period. Senator Investment Group LP bought a new position in Invesco QQQ during the fourth quarter worth about $679,936,000. Spear Holdings RSC Ltd bought a new position in Invesco QQQ during the first quarter worth about $474,600,000. Finally, Asset Planning Services Inc. LA ADV increased its position in Invesco QQQ by 100,517.9% during the first quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock worth $437,375,000 after acquiring an additional 931,801 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ stock opened at $561.26 on Friday. The company's 50-day moving average price is $534.38 and its two-hundred day moving average price is $507.15. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $564.73.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.

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.

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