TIAA Trust National Association Has $13.54 Million Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• TIAA Trust National Association reduced its stake in Invesco QQQ by 2.8% in Q1, holding 28,864 shares valued at approximately $13.54 million.
• Invesco QQQ recently declared a quarterly dividend of $0.5911, representing an annualized dividend of $2.36 and a yield of 0.4%.
• The stock's price fluctuated between a 12-month low of $402.39 and a high of $574.63, currently opening at $553.88.

TIAA Trust National Association lowered its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,864 shares of the exchange traded fund's stock after selling 834 shares during the quarter. TIAA Trust National Association's holdings in Invesco QQQ were worth $13,535,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Mullooly Asset Management Inc. acquired a new stake in Invesco QQQ during the 1st quarter worth $2,775,904,000. Helium Advisors LLC raised its stake in Invesco QQQ by 23.1% during the 1st quarter. Helium Advisors LLC now owns 5,770 shares of the exchange traded fund's stock worth $2,705,000 after buying an additional 1,084 shares during the period. Clearwater Capital Advisors LLC raised its stake in Invesco QQQ by 7.1% during the 1st quarter. Clearwater Capital Advisors LLC now owns 2,300 shares of the exchange traded fund's stock worth $1,078,000 after buying an additional 152 shares during the period. Pettyjohn Wood & White Inc. raised its stake in Invesco QQQ by 1.0% during the 1st quarter. Pettyjohn Wood & White Inc. now owns 24,079 shares of the exchange traded fund's stock worth $11,291,000 after buying an additional 245 shares during the period. Finally, Headland Capital LLC raised its stake in Invesco QQQ by 3.9% during the 1st quarter. Headland Capital LLC now owns 781 shares of the exchange traded fund's stock worth $366,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Down 2.0%

Shares of Invesco QQQ stock opened at $553.88 on Friday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $574.63. The stock's fifty day simple moving average is $544.01 and its 200 day simple moving average is $510.69.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a $0.5911 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%.

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.

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