Pinnacle Financial Partners Inc Buys 3,906 Shares of Invesco QQQ (NASDAQ:QQQ)

Pinnacle Financial Partners Inc raised its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 16.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,306 shares of the exchange traded fund's stock after acquiring an additional 3,906 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Invesco QQQ were worth $12,932,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Ameriprise Financial Inc. grew 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 worth $2,300,993,000 after purchasing an additional 756,990 shares during the period. PNC Financial Services Group Inc. grew its stake 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 valued at $1,593,354,000 after buying an additional 27,115 shares during the period. Commonwealth Equity Services LLC increased its position in 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 buying an additional 52,235 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Invesco QQQ by 34.8% during 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 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 1st 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 period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.7%

NASDAQ:QQQ traded up $3.81 on Wednesday, hitting $550.80. The stock had a trading volume of 36,407,364 shares, compared to its average volume of 39,147,923. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $552.80. The business's fifty day moving average is $514.18 and its 200 day moving average is $504.17.

Invesco QQQ Cuts Dividend

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