Invesco QQQ $QQQ Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 189,035 shares of the exchange traded fund’s stock after buying an additional 556 shares during the period. Invesco QQQ makes up approximately 1.5% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 12th largest position. Pinnacle Associates Ltd.’s holdings in Invesco QQQ were worth $104,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QQQ. FWG Investments LLC. acquired a new stake in Invesco QQQ in the 2nd quarter valued at approximately $639,000. Amplius Wealth Advisors LLC grew its holdings in shares of Invesco QQQ by 1.5% during the 2nd quarter. Amplius Wealth Advisors LLC now owns 71,560 shares of the exchange traded fund’s stock worth $39,470,000 after purchasing an additional 1,042 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in shares of Invesco QQQ by 3.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 31,073 shares of the exchange traded fund’s stock worth $17,142,000 after purchasing an additional 907 shares in the last quarter. Buckhead Capital Management LLC acquired a new stake in shares of Invesco QQQ during the 2nd quarter worth approximately $301,000. Finally, Simon Quick Advisors LLC grew its holdings in shares of Invesco QQQ by 15.5% during the 2nd quarter. Simon Quick Advisors LLC now owns 7,308 shares of the exchange traded fund’s stock worth $4,031,000 after purchasing an additional 979 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $626.05 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $637.01. The business’s 50 day moving average is $595.56 and its 200-day moving average is $551.96.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a $0.694 dividend. This represents a $2.78 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59.

Invesco QQQ 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.