United Asset Strategies Inc. lowered its stake in Invesco QQQ Trust (NASDAQ:QQQ) by 59.4% in the third quarter, HoldingsChannel reports. The firm owned 4,581 shares of the exchange traded fund’s stock after selling 6,689 shares during the quarter. United Asset Strategies Inc.’s holdings in Invesco QQQ Trust were worth $851,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. First Interstate Bank acquired a new stake in Invesco QQQ Trust during the 3rd quarter worth $167,000. Associated Banc Corp grew its holdings in Invesco QQQ Trust by 505.9% during the 3rd quarter. Associated Banc Corp now owns 8,186 shares of the exchange traded fund’s stock worth $1,521,000 after acquiring an additional 6,835 shares during the period. Capital Analysts LLC grew its holdings in Invesco QQQ Trust by 2.1% during the 3rd quarter. Capital Analysts LLC now owns 17,863 shares of the exchange traded fund’s stock worth $3,319,000 after acquiring an additional 368 shares during the period. Segment Wealth Management LLC grew its holdings in Invesco QQQ Trust by 2.3% during the 3rd quarter. Segment Wealth Management LLC now owns 72,775 shares of the exchange traded fund’s stock worth $13,521,000 after acquiring an additional 1,643 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Invesco QQQ Trust by 22.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 3,800 shares of the exchange traded fund’s stock worth $706,000 after acquiring an additional 700 shares during the period. 39.98% of the stock is owned by institutional investors and hedge funds.
Separately, Bank of America lowered shares of Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a report on Monday, November 5th.
Shares of QQQ stock opened at $167.84 on Wednesday. Invesco QQQ Trust has a 12-month low of $150.13 and a 12-month high of $187.53.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Tuesday, September 25th were issued a $0.3298 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Monday, September 24th.
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Invesco QQQ Trust 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.
Further Reading: Average Daily Trade Volume – What It Means In Stock Trading
Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQ).
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