First Interstate Bank Increases Holdings in Invesco QQQ $QQQ

First Interstate Bank raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,339 shares of the exchange traded fund’s stock after buying an additional 130 shares during the quarter. First Interstate Bank’s holdings in Invesco QQQ were worth $2,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fairway Wealth LLC grew its position in Invesco QQQ by 38.6% during the second quarter. Fairway Wealth LLC now owns 42,213 shares of the exchange traded fund’s stock worth $23,286,000 after buying an additional 11,746 shares in the last quarter. Drive Wealth Management LLC grew its position in Invesco QQQ by 16.7% during the second quarter. Drive Wealth Management LLC now owns 1,092 shares of the exchange traded fund’s stock worth $603,000 after buying an additional 156 shares in the last quarter. Crewe Advisors LLC grew its position in Invesco QQQ by 3.8% during the second quarter. Crewe Advisors LLC now owns 19,693 shares of the exchange traded fund’s stock worth $10,863,000 after buying an additional 725 shares in the last quarter. Evermay Wealth Management LLC lifted its stake in Invesco QQQ by 38.8% during the second quarter. Evermay Wealth Management LLC now owns 526 shares of the exchange traded fund’s stock worth $290,000 after purchasing an additional 147 shares during the last quarter. Finally, CMG Global Holdings LLC lifted its stake in Invesco QQQ by 8.2% during the second quarter. CMG Global Holdings LLC now owns 16,131 shares of the exchange traded fund’s stock worth $9,165,000 after purchasing an additional 1,217 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.7%

Shares of QQQ stock opened at $603.93 on Monday. The business has a 50-day moving average price of $587.30 and a two-hundred day moving average price of $541.36. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $613.18.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a $0.694 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%.

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.