AMG National Trust Bank Acquires 3,739 Shares of Invesco QQQ (NASDAQ:QQQ)

AMG National Trust Bank lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 4.2% in the second quarter, Holdings Channel.com reports. The fund owned 92,355 shares of the exchange traded fund’s stock after purchasing an additional 3,739 shares during the period. Invesco QQQ comprises approximately 1.2% of AMG National Trust Bank’s portfolio, making the stock its 17th largest holding. AMG National Trust Bank’s holdings in Invesco QQQ were worth $44,248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QQQ. Prospect Financial Services LLC raised its holdings 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 acquiring an additional 21 shares during the last quarter. Sweeney & Michel LLC increased its holdings in shares of Invesco QQQ by 4.0% in the second quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after purchasing an additional 22 shares during the last quarter. Family Firm Inc. increased its holdings in shares of Invesco QQQ by 3.1% in the second quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock valued at $354,000 after purchasing an additional 22 shares during the last quarter. Summit X LLC increased its holdings in shares of Invesco QQQ by 0.4% in the fourth quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock valued at $2,451,000 after purchasing an additional 24 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded up $5.15 during midday trading on Friday, hitting $480.00. The company had a trading volume of 36,061,508 shares, compared to its average volume of 40,708,035. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The business’s 50-day simple moving average is $475.08 and its 200-day simple moving average is $453.62.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were issued a $0.7615 dividend. This represents a $3.05 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

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.