Ferguson Wellman Capital Management Inc. Decreases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Ferguson Wellman Capital Management Inc. lessened its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,347 shares of the exchange traded fund’s stock after selling 43 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Invesco QQQ were worth $5,538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ during the 1st quarter worth $28,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ during the second quarter valued at about $30,000. Chelsea Counsel Co. acquired a new stake in Invesco QQQ in the 1st quarter worth approximately $40,000. CGC Financial Services LLC grew its position in Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares during the last quarter. Finally, PFG Private Wealth Management LLC increased its stake in Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.3 %

Shares of NASDAQ:QQQ traded down $1.39 on Thursday, hitting $510.86. 2,929,678 shares of the company were exchanged, compared to its average volume of 38,073,863. The stock’s 50 day moving average price is $487.42 and its 200 day moving average price is $473.42. Invesco QQQ has a 1-year low of $382.66 and a 1-year high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, September 23rd.

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.