Indiana Trust & Investment Management Co Trims Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Indiana Trust & Investment Management Co lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 9.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,113 shares of the exchange traded fund’s stock after selling 315 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Invesco QQQ were worth $1,519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global Assets Advisory LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter worth approximately $1,580,776,000. Steel Grove Capital Advisors LLC grew its stake in shares of Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after acquiring an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC raised its position in shares of Invesco QQQ by 6,215.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after purchasing an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Invesco QQQ in the 1st quarter worth about $304,591,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $490.91 on Thursday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The firm has a 50-day simple moving average of $475.94 and a two-hundred day simple moving average of $464.29.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is 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.