5,198 Shares in Invesco QQQ (NASDAQ:QQQ) Bought by Cloud Capital Management LLC

Cloud Capital Management LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,198 shares of the exchange traded fund's stock, valued at approximately $2,437,000. Invesco QQQ makes up 1.7% of Cloud Capital Management LLC's holdings, making the stock its 17th biggest holding.

A number of other institutional investors have also recently modified their holdings of QQQ. Bridge Generations Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ in the 4th quarter valued at about $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ in the 1st quarter valued at about $50,000. Westend Capital Management LLC purchased a new position in shares of Invesco QQQ during the first quarter valued at approximately $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $57,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ traded up $0.31 on Tuesday, hitting $552.34. 36,064,065 shares of the stock traded hands, compared to its average volume of 39,355,129. The stock's 50 day moving average is $521.12 and its two-hundred day moving average is $504.84. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $557.20.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date 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.