First Merchants Corp Has $942,000 Stock Position in Invesco QQQ (NASDAQ:QQQ)

First Merchants Corp lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 105.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,842 shares of the exchange traded fund's stock after purchasing an additional 946 shares during the quarter. First Merchants Corp's holdings in Invesco QQQ were worth $942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in QQQ. Littlejohn Financial Services Inc. bought a new position in Invesco QQQ during the fourth quarter valued at approximately $5,268,000. Rooted Wealth Advisors Inc. raised its position in Invesco QQQ by 5.3% during the fourth quarter. Rooted Wealth Advisors Inc. now owns 640 shares of the exchange traded fund's stock valued at $330,000 after acquiring an additional 32 shares in the last quarter. Palacios Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter valued at approximately $763,000. Arcus Capital Partners LLC raised its position in Invesco QQQ by 25.8% during the fourth quarter. Arcus Capital Partners LLC now owns 17,730 shares of the exchange traded fund's stock valued at $9,064,000 after acquiring an additional 3,641 shares in the last quarter. Finally, Root Financial Partners LLC raised its position in Invesco QQQ by 16.0% during the fourth quarter. Root Financial Partners LLC now owns 8,461 shares of the exchange traded fund's stock valued at $4,325,000 after acquiring an additional 1,164 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ traded up $1.22 during midday trading on Tuesday, hitting $539.37. 19,700,942 shares of the company's stock traded hands, compared to its average volume of 30,366,953. The stock's fifty day simple moving average is $522.69 and its 200-day simple moving average is $498.89. Invesco QQQ has a one year low of $413.07 and a one year high of $540.00.

Invesco QQQ Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

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.