Ritholtz Wealth Management Acquires 4,652 Shares of Invesco QQQ Trust (NASDAQ:QQQ)

Ritholtz Wealth Management raised its holdings in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 248,898 shares of the exchange traded fund’s stock after purchasing an additional 4,652 shares during the period. Invesco QQQ Trust accounts for approximately 7.8% of Ritholtz Wealth Management’s investment portfolio, making the stock its 3rd biggest holding. Ritholtz Wealth Management owned about 0.05% of Invesco QQQ Trust worth $69,154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Walled Lake Planning & Wealth Management LLC boosted its stake in shares of Invesco QQQ Trust by 414.3% during the 2nd quarter. Walled Lake Planning & Wealth Management LLC now owns 108 shares of the exchange traded fund’s stock worth $27,000 after acquiring an additional 87 shares in the last quarter. First National Bank of South Miami increased its holdings in Invesco QQQ Trust by 300.0% in the 2nd quarter. First National Bank of South Miami now owns 120 shares of the exchange traded fund’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Lipe & Dalton purchased a new position in Invesco QQQ Trust in the 2nd quarter valued at approximately $50,000. Heritage Wealth Advisors boosted its position in Invesco QQQ Trust by 64.1% in the 2nd quarter. Heritage Wealth Advisors now owns 343 shares of the exchange traded fund’s stock valued at $74,000 after buying an additional 134 shares during the period. Finally, Lenox Wealth Advisors LLC boosted its position in Invesco QQQ Trust by 96.2% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 306 shares of the exchange traded fund’s stock valued at $76,000 after buying an additional 150 shares during the period. 42.99% of the stock is currently owned by hedge funds and other institutional investors.

QQQ traded down $1.05 on Monday, reaching $283.69. The company had a trading volume of 572,529 shares, compared to its average volume of 49,567,922. Invesco QQQ Trust has a 1 year low of $164.93 and a 1 year high of $303.50. The stock has a 50-day moving average price of $278.41 and a 200-day moving average price of $252.73.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 22nd will be paid a $0.388 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $1.55 dividend on an annualized basis and a yield of 0.55%.

Separately, ValuEngine cut shares of Invesco QQQ Trust from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd.

About Invesco QQQ Trust

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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Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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