Cairn Investment Group Inc. Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Cairn Investment Group Inc. lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 19.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,090 shares of the exchange traded fund’s stock after selling 760 shares during the quarter. Cairn Investment Group Inc.’s holdings in Invesco QQQ were worth $1,372,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in Invesco QQQ by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after acquiring an additional 28,263,426 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Invesco QQQ during the first quarter worth about $1,580,776,000. CHURCHILL MANAGEMENT Corp boosted its stake in shares of Invesco QQQ by 30.7% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock worth $819,814,000 after buying an additional 433,317 shares during the period. Comerica Bank acquired a new stake in shares of Invesco QQQ during the third quarter worth about $140,657,000. Finally, Granite Bay Wealth Management LLC boosted its stake in shares of Invesco QQQ by 47.1% during the fourth quarter. Granite Bay Wealth Management LLC now owns 1,183,279 shares of the exchange traded fund’s stock worth $451,075,000 after buying an additional 378,922 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.3 %

Shares of QQQ opened at $481.61 on Friday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $486.86. The firm has a 50-day simple moving average of $452.40 and a 200-day simple moving average of $435.37.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be given a $0.7615 dividend. The ex-dividend date is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.63%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57.

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.