Pinnacle Wealth Planning Services Inc. Raises Stock Holdings in Invesco QQQ $QQQ

Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 39.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,727 shares of the exchange traded fund's stock after purchasing an additional 1,346 shares during the quarter. Pinnacle Wealth Planning Services Inc.'s holdings in Invesco QQQ were worth $2,217,000 at the end of the most recent reporting period.Microsoft’s AI Bet Faces a Major Test This Earnings SeasonOther institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth about $51,000. Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $57,000. Blume Capital Management Inc. grew its position in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC grew its position in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock. Invesco QQQ Trading Down 1.2%NASDAQ:QQQ opened at $570.40 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32. The stock has a 50-day moving average price of $562.24 and a 200 day moving average price of $517.38. Invesco QQQ Cuts DividendStrategists Say Hold: Stocks May Beat the 'Sell in May' TrendThe firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. About Invesco QQQ (Free Report)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.Recommended StoriesFive stocks we like better than Invesco QQQHow to Calculate Stock Profit Improving Fundamentals Drive New Buybacks for 3 Strong PerformersWith Risk Tolerance, One Size Does Not Fit All3 Reasons Gartner Could Be the Best Buy of Q3Breakout Stocks: What They Are and How to Identify ThemFree Cash Flow Boom Keeps Microsoft Ahead of the PackS&P 500 and Nasdaq-100 Flashed Death Crosses—Should You Worry?Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Invesco QQQ Right Now?Before you consider Invesco QQQ, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Invesco QQQ wasn't on the list.While Invesco QQQ currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here