Meridian Investment Counsel Inc. Cuts Holdings in Invesco QQQ (NASDAQ:QQQ)

Meridian Investment Counsel Inc. lessened its stake in Invesco QQQ (NASDAQ:QQQ) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,616 shares of the exchange traded fund’s stock after selling 240 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Invesco QQQ were worth $2,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PayPay Securities Corp raised its stake in Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after buying an additional 36 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Invesco QQQ in the 4th quarter valued at about $37,000. Hoese & Co LLP raised its position in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after acquiring an additional 20 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in Invesco QQQ during the fourth quarter worth approximately $51,000. Finally, Creative Capital Management Investments LLC boosted its holdings in Invesco QQQ by 740.0% in the fourth quarter. Creative Capital Management Investments LLC now owns 126 shares of the exchange traded fund’s stock valued at $64,000 after purchasing an additional 111 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 2.6 %

Shares of Invesco QQQ stock opened at $468.94 on Monday. The firm has a market capitalization of $295.55 billion, a P/E ratio of 30.74 and a beta of 1.11. Invesco QQQ has a 52 week low of $413.07 and a 52 week high of $540.81. The firm’s 50 day moving average is $508.43 and its two-hundred day moving average is $505.35.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

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.