Pinnacle Financial Partners Inc Grows Stake in Invesco QQQ (NASDAQ:QQQ)

Pinnacle Financial Partners Inc lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 16.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,400 shares of the exchange traded fund’s stock after buying an additional 3,344 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Invesco QQQ were worth $11,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sigma Planning Corp increased its holdings in shares of Invesco QQQ by 380.5% in the 4th quarter. Sigma Planning Corp now owns 138,533 shares of the exchange traded fund’s stock worth $70,822,000 after buying an additional 109,702 shares during the last quarter. Turning Point Benefit Group Inc. bought a new stake in Invesco QQQ in the 4th quarter worth $1,066,000. Cypress Capital LLC bought a new stake in Invesco QQQ in the 4th quarter worth $240,000. Winebrenner Capital Management LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter worth about $1,732,000. Finally, Navellier & Associates Inc. purchased a new stake in shares of Invesco QQQ in the 4th quarter worth about $575,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ opened at $526.08 on Friday. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $540.81. The firm’s 50-day simple moving average is $523.39 and its two-hundred day simple moving average is $500.70.

Invesco QQQ Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Invesco QQQ 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.