AMG National Trust Bank Sells 1,021 Shares of Invesco QQQ (NASDAQ:QQQ)

AMG National Trust Bank trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,347 shares of the exchange traded fund's stock after selling 1,021 shares during the period. Invesco QQQ makes up 1.2% of AMG National Trust Bank's investment portfolio, making the stock its 19th largest holding. AMG National Trust Bank's holdings in Invesco QQQ were worth $41,427,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Wilkins Miller Wealth Management LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at $1,018,000. Grant Private Wealth Management Inc purchased a new position in Invesco QQQ during the fourth quarter worth about $815,000. Gemsstock Ltd. boosted its holdings in Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after buying an additional 213,400 shares in the last quarter. Tandem Investment Partners LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth $4,623,000. Finally, Wescott Financial Advisory Group LLC increased its position in Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after buying an additional 2,600 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

QQQ traded up $4.61 during trading on Monday, reaching $565.87. 23,515,981 shares of the company were exchanged, compared to its average volume of 39,434,609. The firm has a 50 day moving average of $534.38 and a 200 day moving average of $507.13. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $566.05.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, June 23rd.

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.