Schaper Benz & Wise Investment Counsel Inc. WI Cuts Holdings in Invesco QQQ (NASDAQ:QQQ)

Schaper Benz & Wise Investment Counsel Inc. WI lowered its holdings in Invesco QQQ (NASDAQ:QQQ) by 46.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 433 shares of the exchange traded fund’s stock after selling 375 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Invesco QQQ were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. New Covenant Trust Company N.A. purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at about $28,000. Mechanics Financial Corp purchased a new stake in Invesco QQQ in the second quarter worth approximately $30,000. Chelsea Counsel Co. bought a new stake in Invesco QQQ in the 1st quarter worth approximately $40,000. CGC Financial Services LLC raised its stake 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 valued at $44,000 after buying an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after buying an additional 24 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $494.47 on Friday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The stock’s fifty day moving average price is $477.68 and its 200-day moving average price is $464.99.

Invesco QQQ Cuts Dividend

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

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.