Gibraltar Capital Management Inc. Makes New $6.28 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Gibraltar Capital Management Inc. purchased a new position in Invesco QQQ (NASDAQ:QQQ) in the 1st quarter, HoldingsChannel reports. The firm purchased 13,390 shares of the exchange traded fund’s stock, valued at approximately $6,279,000.

Several other large investors also recently added to or reduced their stakes in QQQ. Ameriprise Financial Inc. grew its stake in Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock valued at $2,300,993,000 after purchasing an additional 756,990 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Invesco QQQ by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund’s stock valued at $1,239,886,000 after buying an additional 52,235 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Invesco QQQ by 34.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund’s stock valued at $1,124,614,000 after acquiring an additional 568,120 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock valued at $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Invesco QQQ by 1.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,342,830 shares of the exchange traded fund’s stock worth $629,680,000 after purchasing an additional 14,017 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 0.9%

Shares of QQQ opened at $555.88 on Monday. The firm has a 50-day simple moving average of $519.53 and a 200-day simple moving average of $504.60. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $557.20.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, June 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.