Richards Merrill & Peterson Inc. Has $6.44 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Richards Merrill & Peterson Inc. increased its holdings in Invesco QQQ to $6.44 million, representing a 5.5% rise with a total of 13,741 shares after purchasing an additional 713 shares.
• As of the latest filing, Invesco QQQ has seen increasing interest from institutional investors, with 44.58% of the stock owned by such entities.
• Invesco QQQ announced a quarterly dividend of $0.5911 per share, resulting in a 0.42% yield based on an annualized basis.

Richards Merrill & Peterson Inc. raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,741 shares of the exchange traded fund's stock after purchasing an additional 713 shares during the period. Invesco QQQ accounts for 3.4% of Richards Merrill & Peterson Inc.'s holdings, making the stock its 5th biggest holding. Richards Merrill & Peterson Inc.'s holdings in Invesco QQQ were worth $6,443,000 as of its most recent filing with the Securities and Exchange Commission.

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

Invesco QQQ Trading Up 0.2%

QQQ opened at $566.37 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $567.70. The company's 50-day moving average price is $539.14 and its two-hundred day moving average price is $508.80.

Invesco QQQ Cuts Dividend

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

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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