Invesco QQQ $QQQ Stake Increased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.8% in the second quarter, HoldingsChannel.com reports. The fund owned 59,797 shares of the exchange traded fund’s stock after acquiring an additional 1,050 shares during the quarter. Invesco QQQ accounts for approximately 2.7% of Pinnacle Wealth Management Advisory Group LLC’s portfolio, making the stock its 8th largest position. Pinnacle Wealth Management Advisory Group LLC’s holdings in Invesco QQQ were worth $32,986,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Invesco QQQ by 704,593.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock worth $37,299,340,000 after purchasing an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after buying an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. purchased a new position in shares of Invesco QQQ during the 1st quarter valued at about $2,775,904,000. Northwestern Mutual Wealth Management Co. lifted its position in Invesco QQQ by 1.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund’s stock worth $1,501,063,000 after buying an additional 52,234 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Invesco QQQ by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock worth $1,163,036,000 after buying an additional 54,944 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.3%

Shares of NASDAQ QQQ opened at $609.74 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $637.01. The firm’s 50 day simple moving average is $601.34 and its two-hundred day simple moving average is $560.02.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 22nd were 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 was Monday, September 22nd. This is a boost 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.