Invesco QQQ (NASDAQ:QQQ) Stock Holdings Increased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 188,479 shares of the exchange traded fund's stock after buying an additional 17,103 shares during the quarter. Invesco QQQ comprises approximately 1.3% of Pinnacle Associates Ltd.'s portfolio, making the stock its 10th largest position. Pinnacle Associates Ltd.'s holdings in Invesco QQQ were worth $88,381,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in QQQ. Eagle Capital Management LLC increased its holdings in Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after purchasing an additional 185 shares during the last quarter. Brighton Jones LLC increased its holdings in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after purchasing an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after purchasing an additional 176 shares during the last quarter. TIAA Trust National Association increased its holdings in Invesco QQQ by 2.7% in the 4th quarter. TIAA Trust National Association now owns 29,698 shares of the exchange traded fund's stock valued at $15,183,000 after purchasing an additional 774 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in Invesco QQQ by 1,092.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 121,504 shares of the exchange traded fund's stock valued at $62,116,000 after purchasing an additional 111,311 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.2%

Invesco QQQ stock traded up $1.36 during trading on Friday, hitting $566.37. The company had a trading volume of 30,579,821 shares, compared to its average volume of 40,473,144. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $567.70. The company's 50 day simple moving average is $539.14 and its 200-day simple moving average is $508.80.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, June 23rd.

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.