Chevy Chase Trust Holdings LLC Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Chevy Chase Trust Holdings LLC lessened its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 11.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,335 shares of the exchange traded fund's stock after selling 551 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Invesco QQQ were worth $2,033,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. YHB Investment Advisors Inc. lifted its holdings in shares of Invesco QQQ by 6.7% in the 1st quarter. YHB Investment Advisors Inc. now owns 7,190 shares of the exchange traded fund's stock worth $3,372,000 after acquiring an additional 452 shares during the last quarter. Embree Financial Group raised its position in Invesco QQQ by 2.8% in the 1st quarter. Embree Financial Group now owns 119,242 shares of the exchange traded fund's stock worth $55,915,000 after purchasing an additional 3,199 shares during the period. Keudell Morrison Wealth Management lifted its stake in Invesco QQQ by 3.1% in the first quarter. Keudell Morrison Wealth Management now owns 6,126 shares of the exchange traded fund's stock worth $2,873,000 after purchasing an additional 183 shares during the last quarter. Integris Wealth Management LLC lifted its stake in Invesco QQQ by 13.5% in the first quarter. Integris Wealth Management LLC now owns 646 shares of the exchange traded fund's stock worth $303,000 after purchasing an additional 77 shares during the last quarter. Finally, Davidson Kahn Capital Management LLC boosted its position in Invesco QQQ by 17.7% during the first quarter. Davidson Kahn Capital Management LLC now owns 17,626 shares of the exchange traded fund's stock valued at $8,265,000 after buying an additional 2,655 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.3%

Shares of NASDAQ:QQQ traded up $1.87 on Friday, reaching $548.09. 57,440,636 shares of the company traded hands, compared to its average volume of 39,006,887. The business's 50-day simple moving average is $509.76 and its 200 day simple moving average is $503.88. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $549.99.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.43%. 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.