Patten Group Inc. Has $861,000 Position in Invesco QQQ $QQQ

Patten Group Inc. cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 3.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,560 shares of the exchange traded fund’s stock after selling 61 shares during the quarter. Patten Group Inc.’s holdings in Invesco QQQ were worth $861,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Morgan Dempsey Capital Management LLC bought a new stake in shares of Invesco QQQ during the second quarter worth $30,000. Marshall & Sullivan Inc. WA acquired a new position in Invesco QQQ in the 2nd quarter worth $41,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ in the 1st quarter worth $50,000. Westend Capital Management LLC bought a new position in Invesco QQQ during the 1st quarter worth about $51,000. Finally, Blume Capital Management Inc. raised its stake in shares of Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after purchasing an additional 2,536 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $605.49 on Thursday. The stock’s 50-day moving average is $589.20 and its 200-day moving average is $543.59. Invesco QQQ has a one year low of $402.39 and a one year high of $613.18.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be paid a $0.694 dividend. This represents a $2.78 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59.

Invesco QQQ Company 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.