Berman Capital Advisors LLC reduced its stake in Invesco QQQ Trust (NASDAQ:QQQ) by 8.9% during the first quarter, HoldingsChannel.com reports. The firm owned 3,666 shares of the exchange traded fund’s stock after selling 358 shares during the period. Berman Capital Advisors LLC’s holdings in Invesco QQQ Trust were worth $658,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of Invesco QQQ Trust by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 114,479 shares of the exchange traded fund’s stock worth $21,270,000 after purchasing an additional 1,154 shares during the last quarter. BB&T Corp increased its position in shares of Invesco QQQ Trust by 20.2% in the 4th quarter. BB&T Corp now owns 7,273 shares of the exchange traded fund’s stock worth $1,122,000 after purchasing an additional 1,222 shares during the last quarter. Summit Securities Group LLC increased its position in shares of Invesco QQQ Trust by 542.9% in the 4th quarter. Summit Securities Group LLC now owns 7,200 shares of the exchange traded fund’s stock worth $1,111,000 after purchasing an additional 6,080 shares during the last quarter. K.J. Harrison & Partners Inc bought a new stake in shares of Invesco QQQ Trust in the 4th quarter worth about $211,000. Finally, Elite Wealth Management Inc. increased its position in shares of Invesco QQQ Trust by 0.4% in the 4th quarter. Elite Wealth Management Inc. now owns 77,137 shares of the exchange traded fund’s stock worth $11,899,000 after purchasing an additional 271 shares during the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.

QQQ opened at $178.16 on Friday. Invesco QQQ Trust has a 1-year low of $143.46 and a 1-year high of $191.32.

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th were given a $0.3242 dividend. This represents a $1.30 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Monday, March 18th.

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Invesco QQQ Trust 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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Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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