W.G. Shaheen & Associates DBA Whitney & Co Has $898,000 Holdings in Invesco QQQ (NASDAQ:QQQ)

W.G. Shaheen & Associates DBA Whitney & Co lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 3.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,840 shares of the exchange traded fund’s stock after buying an additional 57 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Invesco QQQ were worth $898,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the first quarter worth $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ in the second quarter worth approximately $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ in the first quarter valued at approximately $40,000. CGC Financial Services LLC lifted its holdings in shares of Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares in the last quarter. Finally, Legacy Bridge LLC grew its holdings in Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after buying an additional 45 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $500.02 on Tuesday. The stock’s fifty day simple moving average is $490.25 and its two-hundred day simple moving average is $475.35. 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 declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend 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.