Lansing Street Advisors Buys 1,211 Shares of Invesco QQQ (NASDAQ:QQQ)

Lansing Street Advisors boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,849 shares of the exchange traded fund's stock after buying an additional 1,211 shares during the quarter. Invesco QQQ makes up approximately 3.4% of Lansing Street Advisors' investment portfolio, making the stock its 4th largest position. Lansing Street Advisors' holdings in Invesco QQQ were worth $10,245,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after acquiring an additional 756,990 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Invesco QQQ by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after purchasing an additional 27,115 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Invesco QQQ by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after purchasing an additional 52,235 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock worth $1,124,614,000 after buying an additional 568,120 shares during the period. Finally, GAMMA Investing LLC raised its stake in Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after buying an additional 1,868,580 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

QQQ traded down $4.65 during trading on Tuesday, reaching $546.99. 56,013,259 shares of the stock traded hands, compared to its average volume of 39,101,118. The stock's 50-day moving average is $512.13 and its 200 day moving average is $503.87. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $552.80.

Invesco QQQ Cuts Dividend

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

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.