Invesco QQQ $QQQ Shares Sold by Eastern Bank

Key Points

• Eastern Bank reduced its holdings in Invesco QQQ by 4.0%, owning 13,537 shares worth approximately $7.47 million after selling 566 shares in the second quarter.
• The Invesco QQQ increased its quarterly dividend to $0.694, representing a 0.5% dividend yield, up from the previous dividend of $0.59.
• Invesco QQQ's stock opened at $589.55, experiencing a drop of 3.5% recently, with a 52-week high of $613.18 and a low of $402.39.

Eastern Bank cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,537 shares of the exchange traded fund's stock after selling 566 shares during the period. Eastern Bank's holdings in Invesco QQQ were worth $7,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QQQ. Brighton Jones LLC lifted its position in Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after purchasing an additional 4,989 shares during the period. Revolve Wealth Partners LLC lifted its position in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after purchasing an additional 176 shares during the period. Wealth Group Ltd. lifted its position in Invesco QQQ by 305.2% during the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund's stock valued at $3,010,000 after purchasing an additional 4,835 shares during the period. GAMMA Investing LLC raised its position in shares of Invesco QQQ by 19.2% in the first quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund's stock worth $1,872,000 after acquiring an additional 643 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Invesco QQQ by 2.3% in the first quarter. Fifth Third Bancorp now owns 23,196 shares of the exchange traded fund's stock worth $10,877,000 after acquiring an additional 518 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 3.5%

Shares of Invesco QQQ stock opened at $589.55 on Friday. The firm has a 50-day simple moving average of $583.89 and a two-hundred day simple moving average of $536.30. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.