Smithfield Trust Co Boosts Stake in Invesco QQQ (NASDAQ:QQQ)

Smithfield Trust Co lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 15.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 84,239 shares of the exchange traded fund’s stock after purchasing an additional 11,161 shares during the quarter. Invesco QQQ comprises about 2.0% of Smithfield Trust Co’s holdings, making the stock its 14th biggest position. Smithfield Trust Co’s holdings in Invesco QQQ were worth $40,991,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ in the 1st quarter valued at about $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ in the first quarter worth approximately $40,000. CGC Financial Services LLC increased its position in shares of Invesco QQQ by 736.4% during the second 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 in the last quarter. Finally, Legacy Bridge LLC increased its position in shares of 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 purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $503.17 on Thursday. Invesco QQQ has a fifty-two week low of $382.66 and a fifty-two week high of $515.58. The stock’s fifty day moving average is $491.83 and its two-hundred day moving average is $476.02.

Invesco QQQ Cuts Dividend

The firm 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. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.54%.

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.