Bank of New York Mellon Corp Grows Position in Invesco QQQ (NASDAQ:QQQ)

Bank of New York Mellon Corp grew its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 99,906 shares of the exchange traded fund's stock after buying an additional 7,147 shares during the quarter. Bank of New York Mellon Corp's holdings in Invesco QQQ were worth $46,848,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in QQQ. Generali Investments CEE investicni spolecnost a.s. lifted its stake in Invesco QQQ by 32.9% in the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 24,191 shares of the exchange traded fund's stock valued at $11,344,000 after buying an additional 5,991 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in Invesco QQQ by 1.7% in the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,251 shares of the exchange traded fund's stock valued at $1,993,000 after buying an additional 73 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in Invesco QQQ by 2.6% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 30,806 shares of the exchange traded fund's stock valued at $14,446,000 after buying an additional 777 shares during the last quarter. Huntleigh Advisors Inc. lifted its stake in Invesco QQQ by 6.4% in the first quarter. Huntleigh Advisors Inc. now owns 7,839 shares of the exchange traded fund's stock valued at $3,675,000 after buying an additional 469 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Invesco QQQ by 4.0% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,676 shares of the exchange traded fund's stock valued at $786,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.1%

Shares of NASDAQ:QQQ traded up $0.52 during trading on Wednesday, reaching $557.24. The company had a trading volume of 40,301,956 shares, compared to its average volume of 39,465,158. The stock's fifty day moving average price is $529.97 and its 200 day moving average price is $506.17. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $560.80.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.

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.