Pinnacle Wealth Planning Services Inc. Acquires 1,571 Shares of Invesco QQQ (NASDAQ:QQQ)

Pinnacle Wealth Planning Services Inc. boosted its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 86.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,381 shares of the exchange traded fund's stock after purchasing an additional 1,571 shares during the quarter. Pinnacle Wealth Planning Services Inc.'s holdings in Invesco QQQ were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Carolinas Wealth Consulting LLC grew its stake in shares of Invesco QQQ by 1,323.7% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 48,905 shares of the exchange traded fund's stock worth $25,002,000 after purchasing an additional 45,470 shares during the period. Capital A Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter worth about $295,000. Discipline Wealth Solutions LLC grew its position in shares of Invesco QQQ by 4.0% during the 4th quarter. Discipline Wealth Solutions LLC now owns 1,783 shares of the exchange traded fund's stock worth $911,000 after buying an additional 69 shares during the period. Lakeshore Capital Group Inc. bought a new stake in shares of Invesco QQQ in the 4th quarter valued at about $6,076,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Invesco QQQ in the 4th quarter valued at about $706,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.3%

Invesco QQQ stock traded up $1.59 during midday trading on Thursday, hitting $520.50. 37,826,033 shares of the stock were exchanged, compared to its average volume of 37,492,609. The stock has a market capitalization of $326.17 billion, a PE ratio of 30.62 and a beta of 1.11. The company has a fifty day simple moving average of $477.01 and a two-hundred day simple moving average of $501.03. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

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.