AMG National Trust Bank Decreases Stock Position in Invesco QQQ (NASDAQ:QQQ)

AMG National Trust Bank cut its stake in Invesco QQQ (NASDAQ:QQQ) by 2.8% in the third quarter, HoldingsChannel reports. The firm owned 89,774 shares of the exchange traded fund’s stock after selling 2,581 shares during the quarter. Invesco QQQ makes up about 1.2% of AMG National Trust Bank’s investment portfolio, making the stock its 19th biggest position. AMG National Trust Bank’s holdings in Invesco QQQ were worth $43,816,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northeast Investment Management boosted its holdings in shares of Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after acquiring an additional 20 shares in the last quarter. Planning Capital Management Corp boosted its holdings in shares of Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after acquiring an additional 20 shares in the last quarter. Prospect Financial Services LLC boosted its holdings in shares of Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after acquiring an additional 21 shares in the last quarter. Skyline Advisors Inc. boosted its holdings in shares of Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after acquiring an additional 21 shares in the last quarter. Finally, Madden Advisory Services Inc. boosted its holdings in shares of Invesco QQQ by 0.9% in the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after acquiring an additional 21 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 2.4 %

Invesco QQQ stock opened at $496.57 on Monday. The firm has a 50 day simple moving average of $489.33 and a 200-day simple moving average of $474.83. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58.

Invesco QQQ Cuts Dividend

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

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.