Pinnacle Advisory Group Inc. Purchases New Position in Invesco QQQ Trust (NASDAQ:QQQ)

Pinnacle Advisory Group Inc. acquired a new position in Invesco QQQ Trust (NASDAQ:QQQ) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,745 shares of the exchange traded fund’s stock, valued at approximately $557,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Inspire Advisors LLC acquired a new position in Invesco QQQ Trust during the fourth quarter worth $26,000. Cascade Investment Advisors Inc. acquired a new position in shares of Invesco QQQ Trust during the 1st quarter valued at about $28,000. Costello Asset Management INC raised its stake in shares of Invesco QQQ Trust by 119.0% in the 4th quarter. Costello Asset Management INC now owns 92 shares of the exchange traded fund’s stock valued at $29,000 after acquiring an additional 50 shares in the last quarter. Wells Financial Advisors INC bought a new stake in Invesco QQQ Trust during the fourth quarter worth approximately $29,000. Finally, Annapolis Financial Services LLC acquired a new position in Invesco QQQ Trust during the fourth quarter valued at approximately $31,000. 45.52% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:QQQ opened at $340.35 on Friday. Invesco QQQ Trust has a 1 year low of $231.47 and a 1 year high of $342.80. The firm has a fifty day moving average price of $333.17.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 30th. Investors of record on Tuesday, March 23rd were given a dividend of $0.395 per share. The ex-dividend date was Monday, March 22nd. This represents a $1.58 annualized dividend and a dividend yield of 0.46%.

Invesco QQQ Trust Company 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.

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Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQ).

Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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