Sutton Place Investors LLC Purchases Shares of 577 Invesco QQQ (NASDAQ:QQQ)

Sutton Place Investors LLC purchased a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 577 shares of the exchange traded fund's stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sharp Financial Services LLC boosted its position in shares of Invesco QQQ by 33.9% in the 1st quarter. Sharp Financial Services LLC now owns 975 shares of the exchange traded fund's stock worth $457,000 after purchasing an additional 247 shares during the last quarter. Novare Capital Management LLC raised its stake in Invesco QQQ by 28.3% during the 1st quarter. Novare Capital Management LLC now owns 15,204 shares of the exchange traded fund's stock worth $7,129,000 after buying an additional 3,353 shares during the period. Macroview Investment Management LLC raised its stake in Invesco QQQ by 2.6% during the 1st quarter. Macroview Investment Management LLC now owns 8,020 shares of the exchange traded fund's stock worth $3,761,000 after buying an additional 203 shares during the period. Bank of New York Mellon Corp raised its stake in Invesco QQQ by 7.7% during the 1st quarter. Bank of New York Mellon Corp now owns 99,906 shares of the exchange traded fund's stock worth $46,848,000 after buying an additional 7,147 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. raised its stake in Invesco QQQ by 32.9% during the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 24,191 shares of the exchange traded fund's stock worth $11,344,000 after buying an additional 5,991 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock traded up $5.08 during mid-day trading on Friday, hitting $555.88. 26,443,524 shares of the company's stock were exchanged, compared to its average volume of 39,274,525. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $557.20. The company's 50 day simple moving average is $519.53 and its 200-day simple moving average is $504.67.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a 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.