Invesco QQQ $QQQ Stock Position Boosted by Jacobi Capital Management LLC

Jacobi Capital Management LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,454 shares of the exchange traded fund’s stock after purchasing an additional 886 shares during the quarter. Invesco QQQ comprises approximately 2.9% of Jacobi Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Jacobi Capital Management LLC’s holdings in Invesco QQQ were worth $39,133,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of QQQ. Wilkins Miller Wealth Management LLC purchased a new stake in Invesco QQQ during the 4th quarter worth $1,018,000. Sentinus LLC lifted its stake in shares of Invesco QQQ by 17.6% during the fourth quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund’s stock worth $3,307,000 after purchasing an additional 970 shares in the last quarter. Sendero Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the first quarter worth about $273,000. Griffith & Werner Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at about $583,000. Finally, GSG Advisors LLC grew its stake in shares of Invesco QQQ by 8.2% in the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock valued at $3,600,000 after buying an additional 585 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $580.70 on Thursday. The stock’s 50 day moving average price is $567.06 and its 200 day moving average price is $519.55. Invesco QQQ has a one year low of $402.39 and a one year high of $583.77.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend 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.