Pinnacle Wealth Planning Services Inc. Raises Stock Holdings in Invesco QQQ $QQQ
Pinnacle Wealth Planning Services Inc. increased its holdings in Invesco QQQ by 39.8% in Q1, owning 4,727 shares valued at $2.22 million. Other institutional investors also acquired stakes in QQQ. The stock opened at $570.40, with a 12-month range of $402.39 to $583.32. A quarterly dividend of $0.5911 per share was recently paid. Invesco QQQ tracks the Nasdaq-100 Index, providing investors with exposure to its performance.
Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 39.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,727 shares of the exchange traded fund's stock after purchasing an additional 1,346 shares during the quarter. Pinnacle Wealth Planning Services Inc.'s holdings in Invesco QQQ were worth $2,217,000 at the end of the most recent reporting period.
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Other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth about $51,000. Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $57,000. Blume Capital Management Inc. grew its position in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC grew its position in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.
Invesco QQQ Trading Down 1.2%
NASDAQ:QQQ opened at $570.40 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32. The stock has a 50-day moving average price of $562.24 and a 200 day moving average price of $517.38.
Invesco QQQ Cuts Dividend
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The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%.
About Invesco QQQ
(Free Report)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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Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).
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