Gibraltar Capital Management Inc. Takes $6.28 Million Position in Invesco QQQ (NASDAQ:QQQ)

Gibraltar Capital Management Inc. purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,390 shares of the exchange traded fund's stock, valued at approximately $6,279,000.

Other institutional investors also recently added to or reduced their stakes in the company. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ during the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ during the fourth quarter worth approximately $36,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ during the first quarter worth approximately $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ during the first quarter worth approximately $51,000. Finally, Banque Transatlantique SA acquired a new position in Invesco QQQ during the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.1%

QQQ traded up $0.31 during trading on Tuesday, hitting $552.34. 36,064,065 shares of the stock were exchanged, compared to its average volume of 39,355,129. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $557.20. The stock has a fifty day moving average price of $521.12 and a two-hundred day moving average price of $504.84.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 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.