Callahan Advisors LLC Decreases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Callahan Advisors LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 476 shares of the exchange traded fund’s stock after selling 40 shares during the period. Callahan Advisors LLC’s holdings in Invesco QQQ were worth $233,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in QQQ. WFA Asset Management Corp boosted its holdings in Invesco QQQ by 70.6% in the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock valued at $2,032,000 after acquiring an additional 1,894 shares in the last quarter. PBCay One RSC Ltd boosted its holdings in shares of Invesco QQQ by 6.2% during the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock valued at $166,504,000 after buying an additional 22,000 shares in the last quarter. Chevy Chase Trust Holdings LLC boosted its holdings in shares of Invesco QQQ by 10.5% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 5,483 shares of the exchange traded fund’s stock valued at $2,435,000 after buying an additional 519 shares in the last quarter. Valley Wealth Managers Inc. boosted its holdings in shares of Invesco QQQ by 3.8% during the 1st quarter. Valley Wealth Managers Inc. now owns 1,527 shares of the exchange traded fund’s stock valued at $678,000 after buying an additional 56 shares in the last quarter. Finally, Hemington Wealth Management bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $222,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $492.21 on Wednesday. Invesco QQQ has a 12 month low of $366.91 and a 12 month high of $503.52. The company’s fifty day moving average price is $482.32 and its 200-day moving average price is $470.09.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Monday, September 23rd.

Invesco QQQ Company 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.