Invesco QQQ (NASDAQ:QQQ) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 4.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,925 shares of the exchange traded fund’s stock after selling 289 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Invesco QQQ were worth $2,892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ in the 1st quarter valued at approximately $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ in the second quarter worth $30,000. Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ during the first quarter worth $40,000. CGC Financial Services LLC grew its holdings in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after buying an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its position in shares of Invesco QQQ by 30.4% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after acquiring an additional 24 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $494.47 on Friday. The business has a fifty day moving average of $477.68 and a 200 day moving average of $464.99. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.