Washington Trust Bank Raises Stake in Invesco QQQ (NASDAQ:QQQ)

Washington Trust Bank lifted its position in Invesco QQQ (NASDAQ:QQQ) by 80.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,070 shares of the exchange traded fund’s stock after purchasing an additional 476 shares during the quarter. Washington Trust Bank’s holdings in Invesco QQQ were worth $522,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. International Assets Investment Management LLC lifted its holdings in Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after purchasing an additional 32,516,210 shares in the last quarter. Steel Grove Capital Advisors LLC raised its position in shares of Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after buying an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after buying an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Invesco QQQ during the first quarter valued at approximately $304,591,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.8 %

Shares of NASDAQ QQQ traded up $4.29 during midday trading on Thursday, reaching $509.87. 3,841,401 shares of the stock traded hands, compared to its average volume of 38,349,672. The company’s 50 day moving average is $483.00 and its 200 day moving average is $470.34. Invesco QQQ has a one year low of $369.57 and a one year high of $510.44.

Invesco QQQ Cuts Dividend

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

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.