MIG Capital LLC Purchases New Stake in Invesco QQQ $QQQ

MIG Capital LLC purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 70,912 shares of the exchange traded fund’s stock, valued at approximately $39,118,000. Invesco QQQ makes up approximately 4.0% of MIG Capital LLC’s holdings, making the stock its 9th largest holding.

Other institutional investors also recently bought and sold shares of the company. Country Trust Bank raised its stake in shares of Invesco QQQ by 6.3% in the 2nd quarter. Country Trust Bank now owns 1,759 shares of the exchange traded fund’s stock valued at $970,000 after acquiring an additional 105 shares during the period. Richmond Investment Services LLC increased its holdings in Invesco QQQ by 103.9% in the 2nd quarter. Richmond Investment Services LLC now owns 63,861 shares of the exchange traded fund’s stock valued at $35,235,000 after purchasing an additional 32,538 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in Invesco QQQ by 66.9% in the second quarter. J.W. Cole Advisors Inc. now owns 194,757 shares of the exchange traded fund’s stock valued at $107,436,000 after purchasing an additional 78,090 shares during the period. Manchester Capital Management LLC raised its position in Invesco QQQ by 0.9% in the second quarter. Manchester Capital Management LLC now owns 5,468 shares of the exchange traded fund’s stock valued at $3,016,000 after purchasing an additional 51 shares during the period. Finally, SlateStone Wealth LLC lifted its stake in shares of Invesco QQQ by 3.3% during the second quarter. SlateStone Wealth LLC now owns 6,244 shares of the exchange traded fund’s stock worth $3,444,000 after purchasing an additional 198 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.6%

QQQ stock opened at $608.89 on Wednesday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $637.01. The stock has a 50-day simple moving average of $607.77 and a 200-day simple moving average of $571.40.

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 paid a dividend of $0.694 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, September 22nd.

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.