Scotia Capital Inc. Cuts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Scotia Capital Inc. lessened its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 83,045 shares of the exchange traded fund's stock after selling 2,045 shares during the period. Scotia Capital Inc.'s holdings in Invesco QQQ were worth $38,942,000 as of its most recent SEC filing.

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

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $553.88 on Friday. The business has a 50-day moving average price of $544.01 and a 200-day moving average price of $510.69. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $574.63.

Invesco QQQ Cuts Dividend

The company also recently disclosed 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. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

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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