HM Payson & Co. Decreases Stock Position in Invesco QQQ (NASDAQ:QQQ)

HM Payson & Co. decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 4.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,187 shares of the exchange traded fund’s stock after selling 159 shares during the period. HM Payson & Co.’s holdings in Invesco QQQ were worth $1,556,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of QQQ. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ in the first quarter worth $28,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ in the 2nd quarter valued at $30,000. Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ in the 1st quarter valued at $40,000. CGC Financial Services LLC lifted its position in Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after acquiring an additional 24 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $483.85 on Friday. Invesco QQQ has a fifty-two week low of $346.62 and a fifty-two week high of $503.52. The stock’s 50-day simple moving average is $481.65 and its 200-day simple moving average is $468.15.

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 issued a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.56%.

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.