Richmond Brothers Inc. Reduces Holdings in Invesco QQQ $QQQ

Richmond Brothers Inc. trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,105 shares of the exchange traded fund’s stock after selling 1,831 shares during the period. Invesco QQQ accounts for about 25.4% of Richmond Brothers Inc.’s 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.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Navigoe LLC increased its holdings in shares of Invesco QQQ by 300.0% in the third quarter. Navigoe LLC now owns 60 shares of the exchange traded fund’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. PayPay Securities Corp lifted its stake in shares of Invesco QQQ by 78.9% during the 3rd quarter. PayPay Securities Corp now owns 68 shares of the exchange traded fund’s stock worth $41,000 after buying an additional 30 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Invesco QQQ during the 3rd quarter worth about $42,000. Moser Wealth Advisors LLC boosted 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 buying an additional 93 shares during the period. Finally, Canoe Financial LP bought a new stake in shares of Invesco QQQ during the 3rd quarter worth about $64,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $603.47 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $637.01. The business has a 50 day moving average of $616.50 and a 200-day moving average of $604.61.

Invesco QQQ Increases Dividend

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

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.