Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Sumitomo Mitsui Trust Group Inc. raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 454,577 shares of the exchange traded fund's stock after buying an additional 12,045 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.07% of Invesco QQQ worth $213,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Tallon Kerry Patrick purchased a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $4,904,000. Naviter Wealth LLC lifted its position in shares of Invesco QQQ by 8.8% in the 4th quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock worth $675,000 after purchasing an additional 107 shares during the period. Eagle Capital Management LLC lifted its position in shares of 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 worth $31,025,000 after purchasing an additional 185 shares during the period. Brighton Jones LLC lifted its position in shares of Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after purchasing an additional 4,989 shares during the period. Finally, Revolve Wealth Partners LLC lifted its position in shares of 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 worth $2,687,000 after purchasing an additional 176 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.3%

Shares of QQQ opened at $548.09 on Friday. The company has a 50 day moving average price of $509.76 and a 200-day moving average price of $503.88. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $549.99.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend 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.

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