Invesco QQQ $QQQ Stock Position Lowered by Ferguson Wellman Capital Management Inc.

Key Points

• Ferguson Wellman Capital Management cut its Invesco QQQ position by 12.9% in the third quarter, selling 1,851 shares and retaining 12,526 shares valued at approximately $9.27 million.
• Other investors adjusted their QQQ holdings, while institutional investors and hedge funds collectively owned 44.58% of the ETF.
• QQQ shares rose 0.7% to $754.50, near their 52-week high, while the quarterly dividend fell to $0.7514 from $0.8135, representing a 0.4% annualized yield.

Ferguson Wellman Capital Management Inc. reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,526 shares of the exchange traded fund's stock after selling 1,851 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Invesco QQQ were worth $9,266,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of QQQ. Parvin Asset Management LLC acquired a new stake in Invesco QQQ during the 1st quarter valued at approximately $28,000. High Point Wealth Management LLC boosted its stake in Invesco QQQ by 68.0% during the 2nd quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund's stock valued at $31,000 after acquiring an additional 17 shares during the last quarter. Islay Capital Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter worth about $32,000. Financial Management Professionals Inc. lifted its holdings in Invesco QQQ by 83.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 55 shares of the exchange traded fund's stock worth $41,000 after buying an additional 25 shares during the last quarter. Finally, Bullseye Investment Management LLC bought a new position in Invesco QQQ during the second quarter worth $44,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.7%

Shares of NASDAQ:QQQ traded up $4.92 on Monday, reaching $754.50. 13,845,150 shares of the company's stock were exchanged, compared to its average volume of 48,412,902. Invesco QQQ has a fifty-two week low of $555.60 and a fifty-two week high of $754.59. The business's 50-day moving average is $717.51 and its two-hundred day moving average is $693.06.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Monday, September 21st will be given a $0.7514 dividend. This is a drop from Invesco QQQ's previous quarterly dividend of $0.8135. This represents a $3.01 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 21st.

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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