Canandaigua National Bank & Trust Co. Reduces Stake in Invesco QQQ (NASDAQ:QQQ)

Canandaigua National Bank & Trust Co. lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,653 shares of the exchange traded fund's stock after selling 512 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Invesco QQQ were worth $6,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ameriprise Financial Inc. grew its holdings in shares of Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after buying an additional 756,990 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Invesco QQQ by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after buying an additional 27,115 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Invesco QQQ by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after buying an additional 52,235 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Invesco QQQ by 34.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after buying an additional 568,120 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after buying an additional 1,868,580 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded up $3.40 during mid-day trading on Wednesday, hitting $550.39. The stock had a trading volume of 25,269,350 shares, compared to its average volume of 45,243,313. The firm has a 50-day moving average of $514.18 and a two-hundred day moving average of $504.17. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $552.80.

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 issued a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.43%.

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.