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

Webster Bank N. A. lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 7.5% during the second quarter, Holdings Channel reports. The institutional investor owned 15,183 shares of the exchange traded fund’s stock after selling 1,239 shares during the period. Invesco QQQ comprises approximately 0.9% of Webster Bank N. A.’s investment portfolio, making the stock its 29th biggest position. Webster Bank N. A.’s holdings in Invesco QQQ were worth $8,376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Compass Financial Services Inc grew its stake in Invesco QQQ by 0.4% in the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock valued at $2,345,000 after buying an additional 19 shares during the last quarter. Willis Johnson & Associates Inc. boosted its holdings in Invesco QQQ by 2.6% in the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund’s stock valued at $416,000 after purchasing an additional 21 shares during the period. MTM Investment Management LLC boosted its holdings in Invesco QQQ by 1.6% in the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock valued at $613,000 after purchasing an additional 21 shares during the period. Cutler Investment Counsel LLC boosted its holdings in Invesco QQQ by 1.4% in the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock valued at $710,000 after purchasing an additional 21 shares during the period. Finally, Mosaic Family Wealth Partners LLC boosted its holdings in Invesco QQQ by 1.6% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund’s stock valued at $707,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $586.66 on Monday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $587.86. The firm has a 50-day moving average price of $568.24 and a two-hundred day moving average price of $520.68.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a $0.5911 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%.

About Invesco QQQ

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.