iA Global Asset Management Inc. Sells 7,202 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• iA Global Asset Management Inc. reduced its holdings in Invesco QQQ by 3.9%, selling 7,202 shares and now owning 179,121 shares, valued at approximately $83.99 million.
• Invesco QQQ has seen various institutional investors purchasing stakes recently, increasing institutional ownership to 44.58%.
• The fund announced a quarterly dividend of $0.5911 per share, resulting in an annualized dividend yield of 0.4%.

iA Global Asset Management Inc. lessened its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 179,121 shares of the exchange traded fund's stock after selling 7,202 shares during the period. Invesco QQQ comprises approximately 1.4% of iA Global Asset Management Inc.'s holdings, making the stock its 16th biggest position. iA Global Asset Management Inc.'s holdings in Invesco QQQ were worth $83,993,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ during the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the 4th quarter valued at approximately $36,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ during the 1st quarter valued at approximately $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ during the 1st quarter valued at approximately $51,000. Finally, Banque Transatlantique SA purchased a new stake in Invesco QQQ during the 4th quarter valued at approximately $57,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ stock opened at $564.10 on Tuesday. The firm has a fifty day moving average price of $545.11 and a 200 day moving average price of $510.97. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $574.63.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 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.

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