Richmond Brothers Inc. Cuts Position in Invesco QQQ $QQQ

Richmond Brothers Inc. decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,105 shares of the exchange traded fund’s stock after selling 1,831 shares during the quarter. Invesco QQQ makes up about 25.4% of Richmond Brothers Inc.’s investment portfolio, making the stock its biggest holding. Richmond Brothers Inc.’s holdings in Invesco QQQ were worth $40,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Navigoe LLC boosted its stake in shares of Invesco QQQ by 300.0% during the 3rd quarter. Navigoe LLC now owns 60 shares of the exchange traded fund’s stock worth $36,000 after buying an additional 45 shares during the last quarter. PayPay Securities Corp increased its position in shares of Invesco QQQ by 78.9% in the third quarter. PayPay Securities Corp now owns 68 shares of the exchange traded fund’s stock valued at $41,000 after acquiring an additional 30 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in Invesco QQQ during the third quarter worth about $42,000. Moser Wealth Advisors LLC raised its holdings in Invesco QQQ by 930.0% during the second 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 in the last quarter. Finally, Canoe Financial LP acquired a new position in Invesco QQQ during the third quarter valued at approximately $64,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

QQQ stock opened at $603.47 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $637.01. The business has a 50 day moving average price of $616.50 and a two-hundred day moving average price of $604.61.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a $0.7941 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.69. This represents a $3.18 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, December 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.