Invesco QQQ (NASDAQ:QQQ) is Steele Capital Management Inc.’s 4th Largest Position

Steele Capital Management Inc. grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.3% in the first quarter, HoldingsChannel.com reports. The firm owned 210,330 shares of the exchange traded fund’s stock after buying an additional 2,728 shares during the quarter. Invesco QQQ comprises approximately 5.4% of Steele Capital Management Inc.’s holdings, making the stock its 4th largest holding. Steele Capital Management Inc.’s holdings in Invesco QQQ were worth $93,509,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Summit X LLC boosted its stake in shares of Invesco QQQ by 0.4% in the fourth quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock worth $2,451,000 after buying an additional 24 shares during the last quarter. IMA Wealth Inc. boosted its stake in shares of Invesco QQQ by 1.3% in the third quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock worth $695,000 after buying an additional 25 shares during the last quarter. S.A. Mason LLC boosted its stake in shares of Invesco QQQ by 1.5% in the fourth quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock worth $696,000 after buying an additional 25 shares during the last quarter. Lauterbach Financial Advisors LLC boosted its stake in shares of Invesco QQQ by 0.4% in the fourth quarter. Lauterbach Financial Advisors LLC now owns 5,606 shares of the exchange traded fund’s stock worth $2,296,000 after buying an additional 25 shares during the last quarter. Finally, Cedrus LLC boosted its position in Invesco QQQ by 1.7% during the fourth quarter. Cedrus LLC now owns 1,456 shares of the exchange traded fund’s stock worth $596,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.1 %

Shares of QQQ stock opened at $481.62 on Tuesday. The business’s 50 day moving average is $454.85 and its two-hundred day moving average is $436.77. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $487.20.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be given a dividend of $0.7615 per share. The ex-dividend date of this dividend 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 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.