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

Spinnaker Trust increased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,227 shares of the exchange traded fund’s stock after buying an additional 281 shares during the quarter. Invesco QQQ comprises about 1.3% of Spinnaker Trust’s portfolio, making the stock its 16th biggest position. Spinnaker Trust’s holdings in Invesco QQQ were worth $19,750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Red Tortoise LLC increased its holdings in Invesco QQQ by 370.0% during the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares in the last quarter. Friedenthal Financial bought a new stake in Invesco QQQ during the 4th quarter worth approximately $41,000. Bear Mountain Capital Inc. bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $42,000. Core Wealth Advisors Inc. grew its holdings in shares of Invesco QQQ by 33.3% in the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock valued at $43,000 after acquiring an additional 30 shares in the last quarter. Finally, Blume Capital Management Inc. grew its holdings in shares of Invesco QQQ by 104.0% in the third quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock valued at $48,000 after acquiring an additional 3,500 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $6.55 during trading on Friday, hitting $431.00. The company’s stock had a trading volume of 41,598,392 shares, compared to its average volume of 46,137,730. The business has a fifty day moving average of $436.88 and a 200-day moving average of $410.11. Invesco QQQ has a 52 week low of $315.05 and a 52 week high of $449.34.

Invesco QQQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be issued a $0.5735 dividend. This represents a $2.29 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, March 18th.

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.