MAI Capital Management Increases Holdings in Invesco QQQ $QQQ

Key Points

• MAI Capital Management has increased its investment in Invesco QQQ by 3.0%, now holding 340,727 shares valued at $159.77 million, making it the 12th largest position in their portfolio.
• Other institutional investors have also adjusted their stakes in Invesco QQQ, contributing to a total institutional ownership of 44.58% of the stock.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, providing a 0.4% yield based on its annualized figures.

MAI Capital Management raised its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 340,727 shares of the exchange traded fund's stock after purchasing an additional 10,052 shares during the quarter. Invesco QQQ accounts for about 1.2% of MAI Capital Management's holdings, making the stock its 12th biggest position. MAI Capital Management owned approximately 0.05% of Invesco QQQ worth $159,774,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Laird Norton Wetherby Wealth Management LLC lifted its stake in Invesco QQQ by 0.3% in 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 buying an additional 20 shares in the last quarter. Willis Johnson & Associates Inc. lifted 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 valued at $416,000 after buying an additional 21 shares in the last quarter. MTM Investment Management LLC lifted its stake in Invesco QQQ by 1.6% in the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after buying an additional 21 shares in the last quarter. Cutler Investment Counsel LLC raised its holdings in Invesco QQQ by 1.4% in the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after acquiring an additional 21 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC raised its holdings in Invesco QQQ by 1.6% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock valued at $707,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.8%

QQQ traded up $4.45 during trading on Wednesday, hitting $570.07. The company's stock had a trading volume of 54,085,885 shares, compared to its average volume of 45,126,477. The firm's 50 day moving average price is $563.53 and its 200-day moving average price is $517.73. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32.

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 issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 23rd.

About Invesco QQQ

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.