Invesco QQQ $QQQ is Ieq Capital LLC’s 8th Largest Position

Ieq Capital LLC increased its position in Invesco QQQ (NASDAQ:QQQ) by 21.1% in the first quarter, Holdings Channel.com reports. The fund owned 514,985 shares of the exchange traded fund’s stock after purchasing an additional 89,716 shares during the period. Invesco QQQ makes up about 1.9% of Ieq Capital LLC’s investment portfolio, making the stock its 8th largest position. Ieq Capital LLC’s holdings in Invesco QQQ were worth $241,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ in the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ in the 1st quarter worth approximately $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ in the 1st quarter worth approximately $51,000. Banque Transatlantique SA bought a new stake in Invesco QQQ in the 4th quarter worth approximately $57,000. Finally, Blume Capital Management Inc. grew its position in Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after purchasing an additional 2,536 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.4%

NASDAQ:QQQ opened at $572.61 on Wednesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32. The company has a 50 day simple moving average of $559.52 and a two-hundred day simple moving average of $516.36.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 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.