Spinnaker Trust Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

Spinnaker Trust lessened its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,245 shares of the exchange traded fund's stock after selling 8,421 shares during the period. Invesco QQQ comprises approximately 1.2% of Spinnaker Trust's holdings, making the stock its 17th biggest position. Spinnaker Trust's holdings in Invesco QQQ were worth $17,933,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Diversified Enterprises LLC grew its stake in shares of Invesco QQQ by 0.4% in the fourth quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund's stock worth $2,679,000 after acquiring an additional 20 shares in the last quarter. Prevail Innovative Wealth Advisors LLC increased its holdings in Invesco QQQ by 4.3% in the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock valued at $247,000 after buying an additional 20 shares during the last quarter. Legacy Investment Solutions LLC increased its holdings in Invesco QQQ by 8.2% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock valued at $138,000 after buying an additional 20 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its stake in Invesco QQQ by 0.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after buying an additional 20 shares in the last quarter. Finally, Willis Johnson & Associates Inc. boosted its position in shares of Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after acquiring an additional 21 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ stock opened at $548.09 on Monday. The business has a 50 day moving average price of $509.76 and a 200 day moving average price of $503.72. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $552.23.

Invesco QQQ Cuts Dividend

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

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