Meridian Wealth Advisors LLC Raises Stock Position in Invesco QQQ $QQQ

Meridian Wealth Advisors LLC grew its stake in Invesco QQQ (NASDAQ:QQQ) by 27.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,202 shares of the exchange traded fund’s stock after purchasing an additional 697 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Invesco QQQ were worth $1,766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Morgan Dempsey Capital Management LLC bought a new position in Invesco QQQ in the second quarter worth about $30,000. Marshall & Sullivan Inc. WA bought a new stake in Invesco QQQ during the 2nd quarter valued at approximately $41,000. Moser Wealth Advisors LLC grew its holdings in shares of Invesco QQQ by 930.0% during the 2nd quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock worth $57,000 after acquiring an additional 93 shares during the period. Atlantic Private Wealth LLC raised its position in shares of Invesco QQQ by 3,000.0% in the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 120 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new position in shares of Invesco QQQ in the 1st quarter worth approximately $70,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $590.07 on Friday. The stock’s 50 day moving average is $607.15 and its 200 day moving average is $568.52. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $637.01.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, September 22nd were issued a dividend of $0.694 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%.

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.