Intrust Bank NA Increases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Intrust Bank NA boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 30,111 shares of the exchange traded fund’s stock after purchasing an additional 487 shares during the period. Invesco QQQ makes up 1.6% of Intrust Bank NA’s holdings, making the stock its 12th largest holding. Intrust Bank NA’s holdings in Invesco QQQ were worth $15,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of QQQ. Maridea Wealth Management LLC purchased a new position in shares of Invesco QQQ during the fourth quarter worth about $19,523,000. Brown Brothers Harriman & Co. increased its holdings in shares of Invesco QQQ by 34.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 14,592 shares of the exchange traded fund’s stock worth $7,460,000 after buying an additional 3,728 shares during the last quarter. RiverFront Investment Group LLC raised its position in shares of Invesco QQQ by 9.4% during the 4th quarter. RiverFront Investment Group LLC now owns 166,784 shares of the exchange traded fund’s stock valued at $85,265,000 after buying an additional 14,377 shares in the last quarter. Pamplona Capital Management LLC bought a new stake in shares of Invesco QQQ during the 4th quarter worth $1,168,000. Finally, NBZ Investment Advisors LLC purchased a new position in Invesco QQQ in the fourth quarter worth $1,608,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 2.6 %

NASDAQ QQQ opened at $468.94 on Friday. The stock’s 50-day simple moving average is $508.43 and its two-hundred day simple moving average is $504.77. Invesco QQQ has a twelve month low of $413.07 and a twelve month high of $540.81. The company has a market capitalization of $295.55 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be given a $0.7157 dividend. The ex-dividend date of this dividend is Monday, March 24th.

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.