NorthCrest Asset Manangement LLC Has $4.54 Million Holdings in Invesco QQQ $QQQ

Key Points

• NorthCrest Asset Management LLC reduced its stake in Invesco QQQ by 5.3%, selling 456 shares, and now holds 8,157 shares valued at approximately $4.5 million.
• Several institutional investors, including Alpine Bank Wealth Management and Westend Capital Management, made new stakes in Invesco QQQ, contributing to a total institutional ownership of 44.58%.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, resulting in an annualized yield of 0.4%, as the stock trades between a 12-month low of $402.39 and a high of $598.14.

NorthCrest Asset Manangement LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,157 shares of the exchange traded fund's stock after selling 456 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Invesco QQQ were worth $4,537,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in QQQ. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ in the 1st quarter valued at about $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ during the 1st quarter worth about $51,000. Blume Capital Management Inc. lifted its holdings in shares of Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after purchasing an additional 2,536 shares in the last quarter. Atlantic Private Wealth LLC lifted its stake in Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after acquiring an additional 120 shares in the last quarter. Finally, Putney Financial Group LLC purchased a new position in Invesco QQQ in the fourth quarter valued at approximately $67,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ stock traded up $4.03 during midday trading on Friday, hitting $599.35. The company had a trading volume of 58,129,765 shares, compared to its average volume of 47,115,312. The stock's 50 day moving average price is $572.19 and its 200 day moving average price is $523.77. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $600.05.

Invesco QQQ Cuts Dividend

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

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.