Spinnaker Trust Boosts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Spinnaker Trust raised its position in Invesco QQQ (NASDAQ:QQQ) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,240 shares of the exchange traded fund’s stock after purchasing an additional 703 shares during the period. Invesco QQQ comprises about 1.4% of Spinnaker Trust’s investment portfolio, making the stock its 15th largest position. Spinnaker Trust’s holdings in Invesco QQQ were worth $22,080,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in shares of Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after acquiring an additional 32,516,210 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Invesco QQQ by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after buying an additional 338,494 shares during the period. Steel Grove Capital Advisors LLC boosted its holdings in Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after acquiring an additional 3,102,568 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Invesco QQQ by 1.1% during the second 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 acquiring an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in shares of 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 purchasing an additional 2,762,571 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 2.0 %

NASDAQ QQQ traded up $9.82 during mid-day trading on Wednesday, hitting $502.03. The company’s stock had a trading volume of 12,572,395 shares, compared to its average volume of 38,377,961. Invesco QQQ has a 52-week low of $369.05 and a 52-week high of $503.52. The stock’s fifty day simple moving average is $482.32 and its two-hundred day simple moving average is $470.09.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Monday, September 23rd.

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.