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

MAI Capital Management increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 293,178 shares of the exchange traded fund's stock after acquiring an additional 5,391 shares during the quarter. Invesco QQQ comprises 1.4% of MAI Capital Management's portfolio, making the stock its 13th biggest holding. MAI Capital Management's holdings in Invesco QQQ were worth $143,091,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Adaptive Financial Consulting LLC grew its holdings in Invesco QQQ by 0.3% in the 3rd quarter. Adaptive Financial Consulting LLC now owns 29,946 shares of the exchange traded fund's stock valued at $14,616,000 after buying an additional 83 shares in the last quarter. TrinityPoint Wealth LLC grew its holdings in shares of Invesco QQQ by 2.8% during the 3rd quarter. TrinityPoint Wealth LLC now owns 4,454 shares of the exchange traded fund's stock worth $2,174,000 after purchasing an additional 120 shares in the last quarter. Westfuller Advisors LLC acquired a new stake in shares of Invesco QQQ during the 3rd quarter worth $2,475,000. Gilbert & Cook Inc. grew its holdings in shares of Invesco QQQ by 96.1% during the 3rd quarter. Gilbert & Cook Inc. now owns 3,276 shares of the exchange traded fund's stock worth $1,599,000 after purchasing an additional 1,605 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Invesco QQQ by 7.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 223,289 shares of the exchange traded fund's stock worth $108,981,000 after purchasing an additional 15,034 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ traded up $3.45 during trading hours on Monday, hitting $500.02. 26,839,154 shares of the company were exchanged, compared to its average volume of 38,203,082. Invesco QQQ has a fifty-two week low of $382.66 and a fifty-two week high of $515.58. The firm's fifty day moving average is $490.25 and its 200 day moving average is $475.35.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 0.54%. The ex-dividend date was Monday, September 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.