NorthCrest Asset Manangement LLC Increases Stake in Invesco QQQ (NASDAQ:QQQ)

NorthCrest Asset Manangement LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 80.0% in the third quarter, HoldingsChannel reports. The fund owned 7,738 shares of the exchange traded fund’s stock after purchasing an additional 3,440 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Invesco QQQ were worth $3,776,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in shares of Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Invesco QQQ by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after buying an additional 338,494 shares in the last quarter. Steel Grove Capital Advisors LLC raised its stake in shares of Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after buying an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Invesco QQQ by 1.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after buying an additional 33,790 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $495.32 on Friday. The firm has a fifty day moving average of $480.51 and a 200 day moving average of $466.85. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.