Montecito Bank & Trust Buys New Shares in Invesco QQQ $QQQ

Montecito Bank & Trust bought a new position in Invesco QQQ (NASDAQ:QQQ) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,133 shares of the exchange traded fund’s stock, valued at approximately $5,483,000. Invesco QQQ comprises 0.9% of Montecito Bank & Trust’s portfolio, making the stock its 28th largest position.

Several other large investors have also added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC purchased a new position in shares of Invesco QQQ in the second quarter worth about $30,000. Marshall & Sullivan Inc. WA acquired a new position in Invesco QQQ in the 2nd quarter worth approximately $41,000. Moser Wealth Advisors LLC increased its holdings in Invesco QQQ by 930.0% in the 2nd quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock worth $57,000 after buying an additional 93 shares during the period. Ransom Advisory Ltd purchased a new position in Invesco QQQ during the 1st quarter worth approximately $70,000. Finally, Barrett & Company Inc. lifted its stake in Invesco QQQ by 14.9% during the 2nd quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock valued at $85,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.9%

QQQ stock opened at $600.41 on Thursday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $637.01. The firm’s fifty day simple moving average is $613.62 and its 200-day simple moving average is $582.45.

Invesco QQQ Increases Dividend

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

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.