Invesco QQQ $QQQ Stock Position Cut by Pinnacle Family Advisors LLC

Key Points

• Pinnacle Family Advisors LLC reduced its position in Invesco QQQ shares by 31.4%, owning 14,408 shares after selling 6,586 shares in the first quarter.
• Other institutional investors have also adjusted their stakes, with Alpine Bank Wealth Management and Westend Capital Management acquiring new shares worth approximately $50,000 and $51,000, respectively.
• Invesco QQQ's annualized dividend was recently set at $2.36 with a dividend yield of 0.4%, with the latest dividend payment made on July 31st.

Pinnacle Family Advisors LLC lessened its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 31.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 14,408 shares of the exchange traded fund's stock after selling 6,586 shares during the quarter. Invesco QQQ makes up approximately 3.7% of Pinnacle Family Advisors LLC's investment portfolio, making the stock its 5th largest holding. Pinnacle Family Advisors LLC's holdings in Invesco QQQ were worth $6,756,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in QQQ. Laird Norton Wetherby Wealth Management LLC increased its holdings in Invesco QQQ by 0.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after acquiring an additional 20 shares in the last quarter. Willis Johnson & Associates Inc. boosted its stake in Invesco QQQ by 2.6% in the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after buying an additional 21 shares during the last quarter. MTM Investment Management LLC grew its holdings in Invesco QQQ by 1.6% in the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after purchasing an additional 21 shares during the period. Cutler Investment Counsel LLC grew its holdings in Invesco QQQ by 1.4% in the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after purchasing an additional 21 shares during the period. Finally, Mosaic Family Wealth Partners LLC grew its holdings in Invesco QQQ by 1.6% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock valued at $707,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Invesco QQQ stock traded up $0.83 during trading on Friday, reaching $576.06. The company had a trading volume of 68,270,403 shares, compared to its average volume of 45,683,576. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32. The stock's 50 day moving average price is $565.25 and its two-hundred day moving average price is $518.33.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were paid a $0.5911 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was 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.