Rockefeller Capital Management L.P. Raises Holdings in Invesco QQQ (NASDAQ:QQQ)

Rockefeller Capital Management L.P. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 849,259 shares of the exchange traded fund’s stock after purchasing an additional 18,833 shares during the period. Invesco QQQ comprises approximately 1.1% of Rockefeller Capital Management L.P.’s portfolio, making the stock its 11th largest holding. Rockefeller Capital Management L.P.’s holdings in Invesco QQQ were worth $414,429,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ during the 2nd quarter worth about $30,000. Chelsea Counsel Co. purchased a new position in Invesco QQQ in the first quarter valued at approximately $40,000. CGC Financial Services LLC raised its holdings in Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares in the last quarter. Legacy Bridge LLC lifted its position in shares of Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after buying an additional 45 shares during the last quarter. Finally, PFG Private Wealth Management LLC grew its position in shares of Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ opened at $505.30 on Friday. The firm has a fifty day moving average price of $495.58 and a 200 day moving average price of $478.50. Invesco QQQ has a 1-year low of $382.66 and a 1-year high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%.

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.