Webster Bank N. A. Has $8.38 Million Position in Invesco QQQ $QQQ

Key Points

• Webster Bank N. A. has reduced its holdings in Invesco QQQ by 7.5%, owning 15,183 shares worth approximately $8.38 million as of the latest SEC filing.
• Multiple institutional investors, including Paladin Wealth LLC and Apella Capital LLC, have either increased or established new positions in Invesco QQQ during the 2nd quarter.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, yielding around 0.4%, highlighting a consistent return for shareholders.

Webster Bank N. A. reduced its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,183 shares of the exchange traded fund's stock after selling 1,239 shares during the period. Invesco QQQ accounts for about 0.9% of Webster Bank N. A.'s portfolio, making the stock its 29th largest holding. Webster Bank N. A.'s holdings in Invesco QQQ were worth $8,376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Paladin Wealth LLC bought a new position in shares of Invesco QQQ in the 2nd quarter valued at about $247,000. RMR Wealth Builders grew its position in shares of Invesco QQQ by 3.3% in the 2nd quarter. RMR Wealth Builders now owns 11,217 shares of the exchange traded fund's stock valued at $6,188,000 after acquiring an additional 363 shares during the period. Goldstone Financial Group LLC grew its position in shares of Invesco QQQ by 2.4% in the 2nd quarter. Goldstone Financial Group LLC now owns 61,653 shares of the exchange traded fund's stock valued at $34,293,000 after acquiring an additional 1,442 shares during the period. NBC Securities Inc. grew its position in shares of Invesco QQQ by 5.5% in the 2nd quarter. NBC Securities Inc. now owns 8,935 shares of the exchange traded fund's stock valued at $4,928,000 after acquiring an additional 465 shares during the period. Finally, Apella Capital LLC grew its position in shares of Invesco QQQ by 824.1% in the 2nd quarter. Apella Capital LLC now owns 37,648 shares of the exchange traded fund's stock valued at $20,783,000 after acquiring an additional 33,574 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ opened at $586.66 on Monday. The firm has a 50-day moving average of $568.24 and a 200-day moving average of $520.68. Invesco QQQ has a one year low of $402.39 and a one year high of $587.86.

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 $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

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.