Invesco QQQ (NASDAQ:QQQ) Shares Acquired by Bell Bank

Bell Bank boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,672 shares of the exchange traded fund's stock after purchasing an additional 592 shares during the quarter. Invesco QQQ comprises 9.7% of Bell Bank's holdings, making the stock its 4th largest holding. Bell Bank owned 0.06% of Invesco QQQ worth $178,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QQQ. Rakuten Securities Inc. raised its position in shares of Invesco QQQ by 32.8% in the 1st quarter. Rakuten Securities Inc. now owns 9,121 shares of the exchange traded fund's stock valued at $4,277,000 after purchasing an additional 2,255 shares during the last quarter. Insigneo Advisory Services LLC increased its position in shares of Invesco QQQ by 15.5% in the 1st quarter. Insigneo Advisory Services LLC now owns 36,485 shares of the exchange traded fund's stock valued at $17,109,000 after acquiring an additional 4,908 shares during the period. Pacific Capital Wealth Advisors Inc. increased its position in shares of Invesco QQQ by 3.7% in the 1st quarter. Pacific Capital Wealth Advisors Inc. now owns 73,802 shares of the exchange traded fund's stock valued at $34,607,000 after acquiring an additional 2,612 shares during the period. Edge Financial Advisors LLC raised its stake in Invesco QQQ by 11.4% in the 1st quarter. Edge Financial Advisors LLC now owns 4,967 shares of the exchange traded fund's stock worth $2,329,000 after acquiring an additional 508 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC lifted its position in Invesco QQQ by 1.2% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 2,489 shares of the exchange traded fund's stock worth $1,167,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $5.21 during midday trading on Tuesday, hitting $529.08. The company's stock had a trading volume of 41,752,700 shares, compared to its average volume of 38,439,854. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The firm has a market cap of $331.55 billion, a P/E ratio of 32.66 and a beta of 1.11. The firm's 50 day moving average is $494.94 and its 200-day moving average is $502.90.

Invesco QQQ Cuts Dividend

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

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.