Mesirow Financial Investment Management Inc. Purchases 1,489 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Mesirow Financial Investment Management Inc. increased its stake in Invesco QQQ by 5.2%, holding a total of 30,166 shares worth approximately $14.15 million as of the latest quarter.
• Institutional investors collectively own 44.58% of Invesco QQQ, with notable increases in stakes from firms like Ameriprise Financial and GAMMA Investing, which raised their holdings significantly.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, yielding 0.42% annually, to be paid to investors of record on June 23rd.

Mesirow Financial Investment Management Inc. lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,166 shares of the exchange traded fund's stock after buying an additional 1,489 shares during the quarter. Mesirow Financial Investment Management Inc.'s holdings in Invesco QQQ were worth $14,145,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ during the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the 4th quarter valued at about $36,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ during the 1st quarter valued at about $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ during the 1st quarter valued at about $51,000. Finally, Banque Transatlantique SA purchased a new stake in Invesco QQQ during the 4th quarter valued at about $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock traded down $11.13 during trading on Friday, hitting $553.88. 69,249,870 shares of the stock traded hands, compared to its average volume of 44,967,387. The firm's 50 day moving average is $543.12 and its two-hundred day moving average is $510.39. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $574.63.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were issued a $0.5911 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

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.