Invesco QQQ (NASDAQ:QQQ) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,056 shares of the exchange traded fund’s stock after acquiring an additional 748 shares during the period. Pinnacle Financial Partners Inc’s holdings in Invesco QQQ were worth $9,789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of QQQ. Westwood Holdings Group Inc. lifted its holdings in Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after buying an additional 1,993 shares during the last quarter. Socha Financial Group LLC boosted its holdings in Invesco QQQ by 2.4% in the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares in the last quarter. Bank Hapoalim BM increased its stake in Invesco QQQ by 5.5% in the third quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after purchasing an additional 6,347 shares during the last quarter. Arrow Financial Corp raised its holdings in Invesco QQQ by 7.2% during the third quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock worth $68,997,000 after purchasing an additional 9,516 shares in the last quarter. Finally, SVB Wealth LLC lifted its position in shares of Invesco QQQ by 15.2% during the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after buying an additional 2,453 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $512.25 on Thursday. The company has a fifty day simple moving average of $486.39 and a 200-day simple moving average of $473.15. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.53%. The ex-dividend date 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.