Invesco QQQ (NASDAQ:QQQ) is Westside Investment Management Inc.'s 4th Largest Position

Westside Investment Management Inc. boosted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,101 shares of the exchange traded fund's stock after buying an additional 2,822 shares during the quarter. Invesco QQQ makes up about 3.3% of Westside Investment Management Inc.'s holdings, making the stock its 4th largest position. Westside Investment Management Inc.'s holdings in Invesco QQQ were worth $15,527,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. WASHINGTON TRUST Co grew its holdings in shares of Invesco QQQ by 24.1% during the 1st quarter. WASHINGTON TRUST Co now owns 856 shares of the exchange traded fund's stock valued at $401,000 after purchasing an additional 166 shares during the last quarter. Tradewinds Capital Management LLC lifted its stake in shares of Invesco QQQ by 361.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,462 shares of the exchange traded fund's stock valued at $1,154,000 after purchasing an additional 1,929 shares during the period. Pacific Wealth Strategies Group Inc. boosted its stake in Invesco QQQ by 0.5% during the first quarter. Pacific Wealth Strategies Group Inc. now owns 21,724 shares of the exchange traded fund's stock worth $10,187,000 after acquiring an additional 107 shares in the last quarter. MorganRosel Wealth Management LLC increased its holdings in shares of Invesco QQQ by 10.6% during the first quarter. MorganRosel Wealth Management LLC now owns 17,314 shares of the exchange traded fund's stock valued at $8,119,000 after acquiring an additional 1,665 shares in the last quarter. Finally, Valley National Advisers Inc. grew its holdings in shares of Invesco QQQ by 224.1% during the first quarter. Valley National Advisers Inc. now owns 5,176 shares of the exchange traded fund's stock valued at $2,426,000 after buying an additional 3,579 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.6%

Invesco QQQ stock traded up $3.55 during midday trading on Monday, reaching $551.64. 45,311,497 shares of the company traded hands, compared to its average volume of 39,033,456. The business has a 50 day moving average of $509.76 and a two-hundred day moving average of $503.72. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $552.73.

Invesco QQQ Cuts Dividend

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

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.