Invesco QQQ (NASDAQ:QQQ) Stock Position Boosted by Financial Insights Inc.

Financial Insights Inc. lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 11.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,599 shares of the exchange traded fund's stock after purchasing an additional 2,167 shares during the period. Invesco QQQ comprises about 4.0% of Financial Insights Inc.'s investment portfolio, making the stock its 7th largest position. Financial Insights Inc.'s holdings in Invesco QQQ were worth $10,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in QQQ. McGuire Investment Group LLC raised its holdings in shares of Invesco QQQ by 0.7% in the first quarter. McGuire Investment Group LLC now owns 10,812 shares of the exchange traded fund's stock valued at $5,070,000 after acquiring an additional 79 shares in the last quarter. Sovran Advisors LLC raised its holdings in shares of Invesco QQQ by 27.8% in the first quarter. Sovran Advisors LLC now owns 22,325 shares of the exchange traded fund's stock valued at $9,914,000 after acquiring an additional 4,856 shares in the last quarter. Joel Isaacson & Co. LLC raised its holdings in shares of Invesco QQQ by 1.0% in the first quarter. Joel Isaacson & Co. LLC now owns 25,841 shares of the exchange traded fund's stock valued at $12,117,000 after acquiring an additional 252 shares in the last quarter. TBH Global Asset Management LLC raised its holdings in shares of Invesco QQQ by 17.7% in the first quarter. TBH Global Asset Management LLC now owns 10,043 shares of the exchange traded fund's stock valued at $4,709,000 after acquiring an additional 1,507 shares in the last quarter. Finally, Westfuller Advisors LLC raised its holdings in shares of Invesco QQQ by 4.1% in the first quarter. Westfuller Advisors LLC now owns 5,333 shares of the exchange traded fund's stock valued at $2,504,000 after acquiring an additional 209 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $1.87 on Friday, hitting $548.09. The stock had a trading volume of 57,440,636 shares, compared to its average volume of 39,006,887. The business has a 50 day moving average price of $509.76 and a 200 day moving average price of $503.88. Invesco QQQ has a one year low of $402.39 and a one year high of $549.99.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.43%.

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.