5,784 Shares in Invesco QQQ $QQQ Purchased by Hilltop National Bank

Key Points

• Hilltop National Bank acquired 5,784 shares of Invesco QQQ, valued at approximately $3.19 million, making it the bank's 25th largest holding.
• Invesco QQQ's recent quarterly dividend increased to $0.694 per share, up from $0.59, with a yield of 0.5%.
• 44.58% of Invesco QQQ's stock is owned by institutional investors and hedge funds, indicating significant interest from larger financial entities.

Hilltop National Bank purchased a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,784 shares of the exchange traded fund's stock, valued at approximately $3,191,000. Invesco QQQ makes up 0.8% of Hilltop National Bank's investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds have also modified their holdings of the stock. Marshall & Sullivan Inc. WA acquired a new position in Invesco QQQ during the second quarter worth $41,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ during the 1st quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ during the 1st quarter worth about $51,000. Blume Capital Management Inc. increased its position in shares of Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC increased its holdings in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after buying an additional 120 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.4%

NASDAQ QQQ opened at $603.18 on Friday. The company has a 50 day moving average of $579.85 and a 200-day moving average of $531.81. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $607.33.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued a dividend of $0.694 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59.

Invesco QQQ 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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