Private Trust Co. NA Trims Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Private Trust Co. NA lowered its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,970 shares of the exchange traded fund's stock after selling 476 shares during the quarter. Invesco QQQ makes up approximately 0.9% of Private Trust Co. NA's portfolio, making the stock its 11th biggest position. Private Trust Co. NA's holdings in Invesco QQQ were worth $8,895,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NWI Management LP lifted its holdings in shares of Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after purchasing an additional 3,648,000 shares during the period. GAMMA Investing LLC lifted its stake in shares of Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after acquiring an additional 1,868,580 shares during the period. Senator Investment Group LP purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at about $679,936,000. Asset Planning Services Inc. LA ADV increased its stake in shares of Invesco QQQ by 100,517.9% during the first quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock worth $437,375,000 after acquiring an additional 931,801 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after acquiring an additional 756,990 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $550.80 on Thursday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $552.80. The firm has a 50-day moving average price of $516.09 and a 200 day moving average price of $504.49.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, June 23rd.

About Invesco QQQ

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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