Meridian Wealth Management LLC Sells 445 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Meridian Wealth Management LLC reduced its holdings in Invesco QQQ by 0.3%, selling 445 shares, resulting in a total of 158,298 shares owned.
• Invesco QQQ's value at the end of the recent quarter was approximately $74.2 million, making it Meridian's fourth largest holding at 3.6% of their portfolio.
• Invesco QQQ has a twelve month high of $574.77 and recently declared a quarterly dividend yielding 0.4% for shareholders.

Meridian Wealth Management LLC lowered its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 158,298 shares of the exchange traded fund's stock after selling 445 shares during the quarter. Invesco QQQ makes up approximately 3.6% of Meridian Wealth Management LLC's holdings, making the stock its 4th biggest holding. Meridian Wealth Management LLC's holdings in Invesco QQQ were worth $74,229,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of QQQ. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ in the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Invesco QQQ during the 4th quarter valued at $36,000. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC acquired a new position in shares of Invesco QQQ during the 1st quarter valued at $51,000. Finally, Banque Transatlantique SA acquired a new position in shares of Invesco QQQ during the 4th quarter valued at $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $574.55 on Monday. The firm's fifty day simple moving average is $549.00 and its 200 day simple moving average is $512.09. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $574.77.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 annualized dividend and a 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.

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