Huntington National Bank increased its stake in Invesco QQQ Trust (NASDAQ:QQQ) by 3.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,234 shares of the exchange traded fund’s stock after acquiring an additional 294 shares during the quarter. Huntington National Bank’s holdings in Invesco QQQ Trust were worth $2,038,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of QQQ. Arrow Financial Corp purchased a new position in shares of Invesco QQQ Trust during the first quarter valued at $27,000. Howe & Rusling Inc. grew its holdings in shares of Invesco QQQ Trust by 3,080.0% during the first quarter. Howe & Rusling Inc. now owns 159 shares of the exchange traded fund’s stock valued at $30,000 after buying an additional 154 shares in the last quarter. Financial Advantage Inc. purchased a new position in shares of Invesco QQQ Trust during the first quarter valued at $31,000. Sanders Morris Harris LLC grew its holdings in shares of Invesco QQQ Trust by 50.2% during the first quarter. Sanders Morris Harris LLC now owns 191,063 shares of the exchange traded fund’s stock valued at $36,000 after buying an additional 63,818 shares in the last quarter. Finally, OmniStar Financial Group Inc. purchased a new position in shares of Invesco QQQ Trust during the first quarter valued at $39,000. Institutional investors and hedge funds own 42.71% of the company’s stock.
Separately, ValuEngine cut Invesco QQQ Trust from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 23rd were given a dividend of $0.424 per share. This is a boost from Invesco QQQ Trust’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $1.70 dividend on an annualized basis and a yield of 0.64%.
About Invesco QQQ Trust
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.
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