Trust Point Inc. Increases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Trust Point Inc. boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 10.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,469 shares of the exchange traded fund’s stock after acquiring an additional 225 shares during the quarter. Trust Point Inc.’s holdings in Invesco QQQ were worth $1,205,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. MA purchased a new stake in shares of Invesco QQQ during the first quarter worth approximately $215,000. City State Bank raised its position in shares of Invesco QQQ by 34.4% in the first quarter. City State Bank now owns 527 shares of the exchange traded fund’s stock valued at $234,000 after buying an additional 135 shares during the last quarter. Bangor Savings Bank lifted its stake in shares of Invesco QQQ by 29.6% in the first quarter. Bangor Savings Bank now owns 875 shares of the exchange traded fund’s stock worth $389,000 after buying an additional 200 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in Invesco QQQ by 0.7% during the first quarter. Salem Investment Counselors Inc. now owns 5,816 shares of the exchange traded fund’s stock worth $2,586,000 after acquiring an additional 42 shares during the last quarter. Finally, Beacon Capital Management Inc. grew its stake in Invesco QQQ by 1,023.5% during the 1st quarter. Beacon Capital Management Inc. now owns 121,754 shares of the exchange traded fund’s stock valued at $54,174,000 after acquiring an additional 110,917 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.7 %

QQQ stock opened at $494.47 on Friday. The firm has a 50-day moving average of $477.68 and a two-hundred day moving average of $464.82. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%.

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.