Spinnaker Trust Has $19.75 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Spinnaker Trust raised its stake in Invesco QQQ (NASDAQ:QQQ) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,227 shares of the exchange traded fund’s stock after buying an additional 281 shares during the quarter. Invesco QQQ accounts for about 1.3% of Spinnaker Trust’s portfolio, making the stock its 16th largest position. Spinnaker Trust’s holdings in Invesco QQQ were worth $19,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of 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 worth $11,602,698,000 after acquiring an additional 28,263,426 shares in the last quarter. Comerica Bank bought a new position in shares of Invesco QQQ during the third quarter worth about $140,657,000. Granite Bay Wealth Management LLC grew its holdings 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 in the last quarter. CHURCHILL MANAGEMENT Corp grew its holdings in shares of Invesco QQQ by 36.3% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 1,413,069 shares of the exchange traded fund’s stock worth $578,680,000 after buying an additional 376,661 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Invesco QQQ by 77.2% during the fourth quarter. Cerity Partners LLC now owns 842,894 shares of the exchange traded fund’s stock worth $345,182,000 after buying an additional 367,317 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.5 %

Shares of NASDAQ:QQQ traded up $6.55 during mid-day trading on Friday, reaching $431.00. 41,598,392 shares of the stock were exchanged, compared to its average volume of 46,137,730. Invesco QQQ has a one year low of $315.05 and a one year high of $449.34. The stock’s 50 day simple moving average is $436.88 and its 200-day simple moving average is $410.11.

Invesco QQQ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be issued a dividend of $0.5735 per share. The ex-dividend date is Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.53%.

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.