Invesco QQQ $QQQ Stake Cut by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,561 shares of the exchange traded fund’s stock after selling 1,133 shares during the quarter. Invesco QQQ makes up 1.8% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 11th largest holding. Penobscot Investment Management Company Inc.’s holdings in Invesco QQQ were worth $21,272,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Marshall & Sullivan Inc. WA acquired a new position in Invesco QQQ in the second quarter worth approximately $41,000. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ during the 1st quarter valued at about $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ in the 1st quarter valued at approximately $51,000. Blume Capital Management Inc. lifted its holdings in Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after purchasing an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC boosted its position in Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.4%

Shares of QQQ stock opened at $603.18 on Monday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $607.33. The business’s 50 day moving average is $579.85 and its two-hundred day moving average is $532.54.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a $0.694 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 annualized dividend and a yield of 0.5%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59.

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.