Equitable Trust Co. Reduces Stock Position in Invesco QQQ $QQQ

Key Points

• Equitable Trust Co. reduced its holdings in Invesco QQQ by 3.7%, owning 27,106 shares valued at approximately $14.95 million following the sale of 1,049 shares.
• Other institutional investors like Compass Financial Services, Vermillion Wealth Management, and Barrett & Company have increased their stakes in Invesco QQQ during the same period.
• Invesco QQQ has declared a quarterly dividend of $0.694, an increase from the previous dividend of $0.59, with a dividend yield of 0.5%.

Equitable Trust Co. lowered its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,106 shares of the exchange traded fund's stock after selling 1,049 shares during the period. Equitable Trust Co.'s holdings in Invesco QQQ were worth $14,953,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Compass Financial Services Inc raised its holdings in Invesco QQQ by 0.4% in the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock worth $2,345,000 after purchasing an additional 19 shares in the last quarter. Vermillion Wealth Management Inc. raised its holdings in Invesco QQQ by 4.2% in the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund's stock worth $271,000 after purchasing an additional 20 shares in the last quarter. Barrett & Company Inc. raised its holdings in Invesco QQQ by 14.9% in the 2nd quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund's stock worth $85,000 after purchasing an additional 20 shares in the last quarter. Investment Advisory Group LLC raised its holdings in Invesco QQQ by 0.4% in the 2nd quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund's stock worth $3,158,000 after purchasing an additional 20 shares in the last quarter. Finally, waypoint wealth counsel raised its holdings in Invesco QQQ by 0.6% in the 2nd quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund's stock worth $1,964,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $598.00 on Wednesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $613.18. The firm has a fifty day simple moving average of $585.40 and a two-hundred day simple moving average of $538.03.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a $0.694 dividend. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59.

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.

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