First Merchants Corp Grows Position in Invesco QQQ $QQQ

First Merchants Corp lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,952 shares of the exchange traded fund’s stock after purchasing an additional 163 shares during the period. First Merchants Corp’s holdings in Invesco QQQ were worth $1,077,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in QQQ. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ in the 2nd quarter worth about $41,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the 1st quarter valued at about $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ during the 1st quarter valued at about $51,000. Blume Capital Management Inc. boosted its position in shares of Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after acquiring an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC boosted its position in shares of Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 120 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $610.70 on Friday. The business has a 50 day moving average of $583.17 and a 200 day moving average of $535.28. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $611.75.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59.

About Invesco QQQ

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.