Invesco QQQ (NASDAQ:QQQ) Stock Position Lifted by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,473 shares of the exchange traded fund's stock after buying an additional 1,788 shares during the period. Invesco QQQ accounts for approximately 0.7% of Rehmann Capital Advisory Group's holdings, making the stock its 29th largest holding. Rehmann Capital Advisory Group's holdings in Invesco QQQ were worth $11,476,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its position 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 valued at $2,300,993,000 after acquiring an additional 756,990 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Invesco QQQ by 2.2% in the fourth 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 acquiring an additional 52,235 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Invesco QQQ by 34.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after acquiring an additional 568,120 shares in the last quarter. GAMMA Investing LLC grew its position in Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after acquiring an additional 1,868,580 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Invesco QQQ by 1.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,342,830 shares of the exchange traded fund's stock valued at $629,680,000 after acquiring an additional 14,017 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.1%

Shares of NASDAQ QQQ traded down $0.80 during midday trading on Thursday, reaching $555.45. 34,532,031 shares of the company's stock were exchanged, compared to its average volume of 39,450,524. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $557.63. The business's fifty day moving average price is $525.75 and its two-hundred day moving average price is $505.74.

Invesco QQQ Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.43%.

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.