Spinnaker Trust Has $21.78 Million Stake in Invesco QQQ $QQQ

Spinnaker Trust increased its holdings in Invesco QQQ (NASDAQ:QQQ) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,476 shares of the exchange traded fund’s stock after buying an additional 1,231 shares during the period. Invesco QQQ accounts for 1.3% of Spinnaker Trust’s holdings, making the stock its 17th largest position. Spinnaker Trust’s holdings in Invesco QQQ were worth $21,776,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GSG Advisors LLC grew its stake in shares of Invesco QQQ by 8.2% during the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock worth $3,600,000 after buying an additional 585 shares during the last quarter. Amundi grew its stake in shares of Invesco QQQ by 6.3% during the first quarter. Amundi now owns 110,903 shares of the exchange traded fund’s stock worth $49,980,000 after buying an additional 6,600 shares during the last quarter. Jackson Wealth Management LLC grew its stake in shares of Invesco QQQ by 8.6% during the first quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund’s stock worth $9,428,000 after buying an additional 1,586 shares during the last quarter. Greykasell Wealth Strategies Inc. grew its stake in shares of Invesco QQQ by 8.4% during the first quarter. Greykasell Wealth Strategies Inc. now owns 7,782 shares of the exchange traded fund’s stock worth $3,649,000 after buying an additional 605 shares during the last quarter. Finally, AM Investment Strategies LLC grew its stake in shares of Invesco QQQ by 46.5% during the first quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund’s stock worth $904,000 after buying an additional 612 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.5%

NASDAQ QQQ opened at $635.77 on Thursday. The firm’s fifty day moving average price is $594.30 and its two-hundred day moving average price is $551.44. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $637.01.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a $0.694 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 22nd.

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.