Meridian Investment Counsel Inc. Sells 240 Shares of Invesco QQQ (NASDAQ:QQQ)

Meridian Investment Counsel Inc. trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,616 shares of the exchange traded fund’s stock after selling 240 shares during the period. Meridian Investment Counsel Inc.’s holdings in Invesco QQQ were worth $2,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of QQQ. SOA Wealth Advisors LLC. increased its position in shares of Invesco QQQ by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock valued at $8,477,000 after purchasing an additional 46 shares during the last quarter. FMR LLC boosted its stake in Invesco QQQ by 1.7% during the third quarter. FMR LLC now owns 778,065 shares of the exchange traded fund’s stock worth $379,751,000 after buying an additional 13,338 shares during the period. Hantz Financial Services Inc. increased its position in Invesco QQQ by 2.3% during the third quarter. Hantz Financial Services Inc. now owns 2,483 shares of the exchange traded fund’s stock valued at $1,212,000 after acquiring an additional 56 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in shares of Invesco QQQ in the 3rd quarter worth about $791,000. Finally, Tradition Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 1.4% in the 3rd quarter. Tradition Wealth Management LLC now owns 31,939 shares of the exchange traded fund’s stock worth $15,588,000 after acquiring an additional 431 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 2.6 %

Shares of NASDAQ:QQQ opened at $468.94 on Monday. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $540.81. The company has a market capitalization of $295.55 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11. The firm’s 50-day moving average is $508.43 and its 200 day moving average is $505.35.

Invesco QQQ Cuts Dividend

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

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.