Peapack Gladstone Financial Corp Boosts Stake in Invesco QQQ (NASDAQ:QQQ)

Peapack Gladstone Financial Corp increased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 347,863 shares of the exchange traded fund's stock after acquiring an additional 1,473 shares during the quarter. Invesco QQQ makes up 2.4% of Peapack Gladstone Financial Corp's holdings, making the stock its 3rd largest holding. Peapack Gladstone Financial Corp owned about 0.06% of Invesco QQQ worth $169,781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of QQQ. Northeast Investment Management increased its position in shares of Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund's stock valued at $1,697,000 after acquiring an additional 20 shares during the last quarter. Planning Capital Management Corp increased its position in shares of Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund's stock valued at $146,000 after acquiring an additional 20 shares during the last quarter. Skyline Advisors Inc. increased its position in shares of Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund's stock valued at $215,000 after acquiring an additional 21 shares during the last quarter. Madden Advisory Services Inc. grew its holdings in Invesco QQQ by 0.9% during the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund's stock worth $1,214,000 after purchasing an additional 21 shares during the period. Finally, Meridian Management Co. grew its holdings in Invesco QQQ by 0.6% during the third quarter. Meridian Management Co. now owns 3,361 shares of the exchange traded fund's stock worth $1,640,000 after purchasing an additional 21 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.8 %

Invesco QQQ stock traded up $4.03 during midday trading on Friday, reaching $530.53. 28,163,440 shares of the company's stock were exchanged, compared to its average volume of 37,198,203. Invesco QQQ has a 52 week low of $395.34 and a 52 week high of $533.17. The stock's 50-day simple moving average is $502.92 and its 200 day simple moving average is $483.29.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.51%.

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.