Invesco QQQ (NASDAQ:QQQ) Shares Purchased by Argent Trust Co

Key Points

• Argent Trust Co increased its holdings in Invesco QQQ by 33.6%, now owning 6,304 shares worth approximately $2,956,000 according to recent SEC filings.
• Other institutional investors, including Bridge Generations Wealth Management LLC and Banque Transatlantique SA, have also recently acquired new stakes in Invesco QQQ, contributing to 44.58% of the company's stock being owned by institutional investors.
• Invesco QQQ's stock currently trades at $553.88, with a yearly range between a low of $402.39 and a high of $574.63.

Argent Trust Co increased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,304 shares of the exchange traded fund's stock after acquiring an additional 1,587 shares during the quarter. Argent Trust Co's holdings in Invesco QQQ were worth $2,956,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of QQQ. Bridge Generations Wealth Management LLC bought a new stake in shares of Invesco QQQ in the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ in the 4th quarter worth about $36,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ in the 1st quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ during the first quarter valued at approximately $51,000. Finally, Banque Transatlantique SA acquired a new stake in Invesco QQQ during the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $553.88 on Monday. The stock's 50 day moving average price is $544.01 and its two-hundred day moving average price is $510.67. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $574.63.

Invesco QQQ Cuts Dividend

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

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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