Mesirow Financial Investment Management Inc. Has $11.85 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Mesirow Financial Investment Management Inc. boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 24,705 shares of the exchange traded fund’s stock after acquiring an additional 191 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Invesco QQQ were worth $11,845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. New Covenant Trust Company N.A. bought a new position in Invesco QQQ during the 1st quarter worth about $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ during the second quarter worth about $30,000. Deane Retirement Strategies Inc. acquired a new stake in Invesco QQQ in the 1st quarter valued at approximately $29,000. Legacy Bridge LLC lifted its stake in Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new position in Invesco QQQ during the 4th quarter worth approximately $35,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.4 %

Shares of QQQ opened at $475.34 on Monday. The company has a 50 day moving average of $470.09 and a 200-day moving average of $457.36. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were given a dividend of $0.7615 per share. The ex-dividend date of this dividend was Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.64%.

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.