MAI Capital Management Acquires 5,391 Shares of Invesco QQQ (NASDAQ:QQQ)

MAI Capital Management lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 293,178 shares of the exchange traded fund’s stock after purchasing an additional 5,391 shares during the period. Invesco QQQ makes up about 1.4% of MAI Capital Management’s investment portfolio, making the stock its 13th biggest position. MAI Capital Management’s holdings in Invesco QQQ were worth $143,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. PBCay One RSC Ltd boosted its stake in shares of Invesco QQQ by 6.2% in the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock valued at $166,504,000 after purchasing an additional 22,000 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Invesco QQQ by 140.6% during the 1st quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock worth $108,000 after acquiring an additional 142 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $844,000. Vanguard Group Inc. boosted its position in shares of Invesco QQQ by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund’s stock worth $7,779,000 after purchasing an additional 832 shares during the last quarter. Finally, Davis R M Inc. grew its stake in shares of Invesco QQQ by 15.3% during the first quarter. Davis R M Inc. now owns 3,763 shares of the exchange traded fund’s stock worth $1,671,000 after purchasing an additional 498 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ opened at $496.57 on Monday. The stock’s 50-day moving average price is $489.33 and its two-hundred day moving average price is $474.83. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date 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.