Whittier Trust Co. Has $14.04 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Whittier Trust Co. lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,951 shares of the exchange traded fund's stock after selling 1,282 shares during the quarter. Whittier Trust Co.'s holdings in Invesco QQQ were worth $14,044,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Wilkins Miller Wealth Management LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at about $1,018,000. Grant Private Wealth Management Inc acquired a new position in shares of Invesco QQQ during the 4th quarter worth approximately $815,000. Gemsstock Ltd. raised its stake in shares of Invesco QQQ by 266.4% during the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after purchasing an additional 213,400 shares in the last quarter. Tandem Investment Partners LLC bought a new position in shares of Invesco QQQ in the fourth quarter valued at $4,623,000. Finally, Wescott Financial Advisory Group LLC increased its holdings in Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after buying an additional 2,600 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

NASDAQ QQQ traded up $0.51 on Tuesday, hitting $556.72. 43,060,379 shares of the stock were exchanged, compared to its average volume of 39,456,830. The business's fifty day moving average is $528.46 and its 200 day moving average is $505.81. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $560.70.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.

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.