Merit Financial Group LLC Buys 16,284 Shares of Invesco QQQ (NASDAQ:QQQ)

Merit Financial Group LLC grew its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,911 shares of the exchange traded fund's stock after acquiring an additional 16,284 shares during the period. Invesco QQQ accounts for approximately 1.0% of Merit Financial Group LLC's holdings, making the stock its 21st largest position. Merit Financial Group LLC's holdings in Invesco QQQ were worth $32,316,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of QQQ. 180 Wealth Advisors LLC grew its holdings in Invesco QQQ by 1.2% during the third quarter. 180 Wealth Advisors LLC now owns 2,428 shares of the exchange traded fund's stock worth $870,000 after purchasing an additional 29 shares during the period. Bank Hapoalim BM grew its holdings in Invesco QQQ by 6.3% during the fourth quarter. Bank Hapoalim BM now owns 77,333 shares of the exchange traded fund's stock worth $31,669,000 after purchasing an additional 4,549 shares during the period. Ameriprise Financial Inc. grew its holdings in Invesco QQQ by 6.1% during the third quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund's stock worth $1,530,696,000 after purchasing an additional 243,305 shares during the period. VitalStone Financial LLC grew its holdings in Invesco QQQ by 302.0% during the third quarter. VitalStone Financial LLC now owns 21,403 shares of the exchange traded fund's stock worth $8,099,000 after purchasing an additional 16,079 shares during the period. Finally, Scarborough Advisors LLC grew its holdings in Invesco QQQ by 73.3% during the third quarter. Scarborough Advisors LLC now owns 1,374 shares of the exchange traded fund's stock worth $492,000 after purchasing an additional 581 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 2.0 %

QQQ stock traded up $8.58 during mid-day trading on Friday, hitting $435.48. 48,245,958 shares of the company were exchanged, compared to its average volume of 45,909,441. The business has a 50 day simple moving average of $436.56 and a 200-day simple moving average of $411.72. Invesco QQQ has a 1-year low of $315.11 and a 1-year high of $449.34.

Invesco QQQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th were given a dividend of $0.5735 per share. The ex-dividend date was Monday, March 18th. This represents a $2.29 annualized dividend and a yield of 0.53%.

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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