Ritholtz Wealth Management Has $201.29 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Ritholtz Wealth Management raised its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 412,419 shares of the exchange traded fund's stock after purchasing an additional 7,784 shares during the quarter. Invesco QQQ accounts for approximately 6.1% of Ritholtz Wealth Management's investment portfolio, making the stock its 2nd biggest position. Ritholtz Wealth Management owned about 0.07% of Invesco QQQ worth $201,290,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ during the first quarter worth $28,000. Mechanics Financial Corp acquired a new stake in Invesco QQQ in the second quarter valued at $30,000. Deane Retirement Strategies Inc. acquired a new stake in Invesco QQQ in the first quarter valued at $29,000. Voisard Asset Management Group Inc. acquired a new stake in Invesco QQQ in the fourth quarter valued at $35,000. Finally, Chelsea Counsel Co. acquired a new stake in Invesco QQQ in the first quarter valued at $40,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ QQQ traded up $0.77 on Friday, reaching $493.36. The company had a trading volume of 20,644,497 shares, compared to its average volume of 39,311,230. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The business has a 50 day moving average of $472.55 and a two-hundred day moving average of $463.13.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%.

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.