Guidance Capital Inc. Has $3.45 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Guidance Capital Inc. increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,048 shares of the exchange traded fund's stock after acquiring an additional 485 shares during the period. Invesco QQQ comprises about 1.1% of Guidance Capital Inc.'s investment portfolio, making the stock its 16th biggest position. Guidance Capital Inc.'s holdings in Invesco QQQ were worth $3,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after purchasing an additional 756,990 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Invesco QQQ by 34.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after buying an additional 568,120 shares during the period. GAMMA Investing LLC increased its holdings in Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after buying an additional 1,868,580 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Invesco QQQ by 1.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,342,830 shares of the exchange traded fund's stock valued at $629,680,000 after buying an additional 14,017 shares during the period. Finally, Senator Investment Group LP bought a new position in Invesco QQQ in the 4th quarter valued at about $679,936,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.6%

NASDAQ:QQQ traded down $3.14 during mid-day trading on Tuesday, hitting $561.03. 13,749,757 shares of the company's stock were exchanged, compared to its average volume of 39,403,906. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $566.06. The company has a 50 day simple moving average of $534.38 and a 200-day simple moving average of $507.13.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.42%.

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.