Invesco QQQ (NASDAQ:QQQ) Stake Lowered by First United Bank & Trust

First United Bank & Trust reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,807 shares of the exchange traded fund’s stock after selling 1,026 shares during the period. Invesco QQQ makes up 6.6% of First United Bank & Trust’s portfolio, making the stock its biggest position. First United Bank & Trust’s holdings in Invesco QQQ were worth $18,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of QQQ. CJM Wealth Advisers Ltd. grew its stake in shares of Invesco QQQ by 48.7% in the first quarter. CJM Wealth Advisers Ltd. now owns 108,320 shares of the exchange traded fund’s stock worth $48,095,000 after acquiring an additional 35,492 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Invesco QQQ by 10.5% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 10,499 shares of the exchange traded fund’s stock valued at $4,662,000 after purchasing an additional 994 shares in the last quarter. New Capital Management LP bought a new position in shares of Invesco QQQ during the first quarter valued at $387,000. Farmers Trust Co. lifted its holdings in shares of Invesco QQQ by 29.8% during the first quarter. Farmers Trust Co. now owns 11,426 shares of the exchange traded fund’s stock valued at $5,073,000 after purchasing an additional 2,623 shares in the last quarter. Finally, Monterey Private Wealth Inc. lifted its holdings in shares of Invesco QQQ by 6.3% during the first quarter. Monterey Private Wealth Inc. now owns 12,494 shares of the exchange traded fund’s stock valued at $5,547,000 after purchasing an additional 744 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 1.3 %

Shares of NASDAQ:QQQ opened at $490.85 on Wednesday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The stock’s fifty day moving average price is $474.82 and its 200-day moving average price is $464.10.

Invesco QQQ Cuts Dividend

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

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.