Ferguson Wellman Capital Management Inc. Lowers Position in Invesco QQQ (NASDAQ:QQQ)

Ferguson Wellman Capital Management Inc. lessened its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,347 shares of the exchange traded fund’s stock after selling 43 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Invesco QQQ were worth $5,538,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the business. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $28,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ in the second quarter valued at about $30,000. Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ during the first quarter worth about $40,000. CGC Financial Services LLC raised its position in shares of 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 purchasing an additional 81 shares during the last quarter. Finally, PFG Private Wealth Management LLC lifted its stake in Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 103 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $1.39 during trading hours on Thursday, hitting $510.86. 2,929,678 shares of the stock were exchanged, compared to its average volume of 38,073,863. The firm’s fifty day moving average price is $487.42 and its 200 day moving average price is $473.42. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

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.