Invesco QQQ (NASDAQ:QQQ) Shares Bought by Novare Capital Management LLC

Novare Capital Management LLC grew its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 28.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,204 shares of the exchange traded fund's stock after buying an additional 3,353 shares during the quarter. Novare Capital Management LLC's holdings in Invesco QQQ were worth $7,129,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in shares of Invesco QQQ by 20.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after buying an additional 756,990 shares during the period. PNC Financial Services Group Inc. raised 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 acquiring an additional 27,115 shares in the last quarter. Commonwealth Equity Services LLC raised its position 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 worth $1,239,886,000 after acquiring an additional 52,235 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Invesco QQQ by 34.8% in the 4th 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 acquiring an additional 568,120 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after acquiring an additional 1,868,580 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.9%

Shares of QQQ traded up $5.08 during trading hours on Friday, hitting $555.88. The company had a trading volume of 26,443,524 shares, compared to its average volume of 39,274,525. Invesco QQQ has a one year low of $402.39 and a one year high of $557.20. The company's fifty day moving average price is $519.53 and its two-hundred day moving average price is $504.60.

Invesco QQQ Cuts Dividend

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