First Interstate Bank Buys Shares of 5,209 Invesco QQQ (NASDAQ:QQQ)

First Interstate Bank acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,209 shares of the exchange traded fund's stock, valued at approximately $2,443,000.

Several other large investors have also modified their holdings of QQQ. Alpha Financial Partners LLC boosted its position in shares of Invesco QQQ by 6.1% in the first quarter. Alpha Financial Partners LLC now owns 6,709 shares of the exchange traded fund's stock worth $3,146,000 after buying an additional 386 shares during the period. Topsail Wealth Management LLC boosted its position in shares of Invesco QQQ by 18.2% in the first quarter. Topsail Wealth Management LLC now owns 3,111 shares of the exchange traded fund's stock worth $1,459,000 after buying an additional 478 shares during the period. Moloney Securities Asset Management LLC boosted its position in shares of Invesco QQQ by 0.9% in the first quarter. Moloney Securities Asset Management LLC now owns 31,057 shares of the exchange traded fund's stock worth $14,563,000 after buying an additional 287 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of Invesco QQQ by 7.9% in the first quarter. Rehmann Capital Advisory Group now owns 24,473 shares of the exchange traded fund's stock worth $11,476,000 after buying an additional 1,788 shares during the period. Finally, Cornerstone Planning Group LLC boosted its position in shares of Invesco QQQ by 8.4% in the first quarter. Cornerstone Planning Group LLC now owns 133,927 shares of the exchange traded fund's stock worth $60,878,000 after buying an additional 10,323 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded down $1.25 during midday trading on Friday, hitting $554.20. The company's stock had a trading volume of 39,558,757 shares, compared to its average volume of 39,451,896. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $557.63. The stock has a 50-day simple moving average of $525.75 and a 200-day simple moving average of $505.74.

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 given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a 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.