Beacon Capital Management LLC Raises Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Beacon Capital Management LLC raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 23.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,906 shares of the exchange traded fund's stock after acquiring an additional 23,963 shares during the quarter. Invesco QQQ comprises approximately 8.0% of Beacon Capital Management LLC's investment portfolio, making the stock its 4th biggest holding. Beacon Capital Management LLC's holdings in Invesco QQQ were worth $59,040,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Tallon Kerry Patrick acquired a new position in shares of Invesco QQQ during the fourth quarter valued at $4,904,000. Capital & Planning LLC raised its holdings in Invesco QQQ by 5.0% during the 4th quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund's stock worth $2,477,000 after purchasing an additional 229 shares during the last quarter. Naviter Wealth LLC lifted its position in Invesco QQQ by 8.8% during the 4th quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock valued at $675,000 after purchasing an additional 107 shares during the period. Eagle Capital Management LLC boosted its stake in shares of Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after purchasing an additional 185 shares during the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after purchasing an additional 4,989 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

QQQ opened at $528.99 on Thursday. The firm has a 50 day simple moving average of $497.46 and a 200 day simple moving average of $503.26. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were given a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

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.

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