Cornerstone Capital Inc. Increases Position in Invesco QQQ (NASDAQ:QQQ)

Cornerstone Capital Inc. increased its holdings in Invesco QQQ (NASDAQ:QQQ) by 87.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,309 shares of the exchange traded fund’s stock after acquiring an additional 1,074 shares during the quarter. Cornerstone Capital Inc.’s holdings in Invesco QQQ were worth $1,127,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings 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 buying an additional 32,516,210 shares during the period. Ameriprise Financial Inc. boosted its stake in 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 acquiring an additional 338,494 shares during the period. Steel Grove Capital Advisors LLC grew its holdings in shares of Invesco QQQ by 934.0% during 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 purchasing an additional 3,102,568 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised 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 worth $1,532,904,000 after purchasing an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC lifted its holdings 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 worth $13,307,000 after purchasing an additional 2,762,571 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ stock traded up $4.32 during mid-day trading on Tuesday, reaching $490.33. The company had a trading volume of 5,279,777 shares, compared to its average volume of 38,409,414. Invesco QQQ has a one year low of $366.91 and a one year high of $503.52. The stock’s 50-day simple moving average is $482.01 and its two-hundred day simple moving average is $469.55.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, September 23rd.

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.