Gilbert & Cook Inc. Raises Position in Invesco QQQ (NASDAQ:QQQ)

Gilbert & Cook Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 96.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,276 shares of the exchange traded fund’s stock after purchasing an additional 1,605 shares during the period. Gilbert & Cook Inc.’s holdings in Invesco QQQ were worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QQQ. PBCay One RSC Ltd grew its stake in shares of Invesco QQQ by 6.2% during the first quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock valued at $166,504,000 after buying an additional 22,000 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Invesco QQQ by 140.6% during the first quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock valued at $108,000 after buying an additional 142 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Invesco QQQ during the first quarter valued at approximately $844,000. Vanguard Group Inc. grew its stake in shares of Invesco QQQ by 5.0% during the first quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund’s stock valued at $7,779,000 after buying an additional 832 shares during the last quarter. Finally, Davis R M Inc. grew its stake in shares of Invesco QQQ by 15.3% during the first quarter. Davis R M Inc. now owns 3,763 shares of the exchange traded fund’s stock valued at $1,671,000 after buying an additional 498 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 2.4 %

QQQ opened at $496.57 on Friday. The stock’s 50 day moving average price is $489.33 and its 200-day moving average price is $474.46. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.