Cadence Bank Makes New $2.17 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Cadence Bank acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,443 shares of the exchange traded fund’s stock, valued at approximately $2,168,000.

A number of other institutional investors also recently modified their holdings of the company. Northeast Investment Management raised its position in Invesco QQQ by 0.6% in the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after buying an additional 20 shares during the last quarter. Planning Capital Management Corp raised its holdings in shares of Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after purchasing an additional 20 shares during the last quarter. Prospect Financial Services LLC lifted its position in shares of Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after purchasing an additional 21 shares in the last quarter. Skyline Advisors Inc. boosted its holdings in Invesco QQQ by 5.0% during the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after purchasing an additional 21 shares during the last quarter. Finally, Madden Advisory Services Inc. grew its position in Invesco QQQ by 0.9% in the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after purchasing an additional 21 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $509.31 on Wednesday. The stock’s 50 day moving average price is $494.46 and its 200-day moving average price is $478.12. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58.

Invesco QQQ Cuts Dividend

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

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.