Brown Brothers Harriman & Co. Trims Position in Invesco QQQ (NASDAQ:QQQ)

Brown Brothers Harriman & Co. decreased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 25.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,864 shares of the exchange traded fund’s stock after selling 3,693 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Invesco QQQ were worth $5,302,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new stake in Invesco QQQ in the first quarter valued at $28,000. Mechanics Financial Corp purchased a new stake in Invesco QQQ in the 2nd quarter valued at about $30,000. Chelsea Counsel Co. acquired a new position in Invesco QQQ in the first quarter valued at about $40,000. CGC Financial Services LLC boosted its stake in Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the period. Finally, Legacy Bridge LLC increased its position in shares of Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $506.59 on Tuesday. The company’s 50 day simple moving average is $493.75 and its 200-day simple moving average is $477.65. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58.

Invesco QQQ Cuts Dividend

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

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.