Meridian Investment Counsel Inc. Has $2.52 Million Position in Invesco QQQ (NASDAQ:QQQ)

Meridian Investment Counsel Inc. raised its position in Invesco QQQ (NASDAQ:QQQ) by 317.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,252 shares of the exchange traded fund’s stock after buying an additional 3,994 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Invesco QQQ were worth $2,516,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Zhang Financial LLC raised its position in shares of Invesco QQQ by 9.2% in the second quarter. Zhang Financial LLC now owns 5,063 shares of the exchange traded fund’s stock valued at $2,426,000 after buying an additional 428 shares in the last quarter. Spectrum Financial Alliance Ltd LLC acquired a new position in Invesco QQQ in the 2nd quarter valued at $215,000. Central Bank & Trust Co. lifted its position in shares of Invesco QQQ by 235.3% during the 2nd quarter. Central Bank & Trust Co. now owns 171 shares of the exchange traded fund’s stock valued at $82,000 after acquiring an additional 120 shares during the period. BTC Capital Management Inc. grew its holdings in shares of Invesco QQQ by 0.4% during the 2nd quarter. BTC Capital Management Inc. now owns 12,850 shares of the exchange traded fund’s stock worth $6,157,000 after purchasing an additional 50 shares in the last quarter. Finally, Montz Harcus Wealth Management LLC increased its position in shares of Invesco QQQ by 1.7% in the second quarter. Montz Harcus Wealth Management LLC now owns 8,290 shares of the exchange traded fund’s stock worth $3,972,000 after purchasing an additional 137 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ traded up $6.10 during trading hours on Monday, hitting $481.13. 19,608,883 shares of the stock were exchanged, compared to its average volume of 40,897,285. The company’s fifty day simple moving average is $474.36 and its two-hundred day simple moving average is $451.94. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were paid a $0.7615 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, June 24th.

Invesco QQQ Company 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.