First Interstate Bank Invests $2.44 Million in Invesco QQQ (NASDAQ:QQQ)

First Interstate Bank purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,209 shares of the exchange traded fund’s stock, valued at approximately $2,443,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. NWI Management LP boosted its holdings in Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after buying an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Senator Investment Group LP purchased a new stake in Invesco QQQ during the fourth quarter worth about $679,936,000. Spear Holdings RSC Ltd purchased a new stake in Invesco QQQ during the first quarter worth about $474,600,000. Finally, Asset Planning Services Inc. LA ADV boosted its holdings in Invesco QQQ by 100,517.9% during the first quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund’s stock worth $437,375,000 after buying an additional 931,801 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.9%

Shares of NASDAQ QQQ traded up $4.97 on Wednesday, hitting $557.31. The company’s stock had a trading volume of 3,917,147 shares, compared to its average volume of 39,228,036. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $557.57. The stock has a 50 day moving average of $522.66 and a 200-day moving average of $505.17.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.

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.