Ferguson Wellman Capital Management Inc. Reduces Position in Invesco QQQ $QQQ

Ferguson Wellman Capital Management Inc. decreased its position in Invesco QQQ (NASDAQ:QQQ) by 12.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,526 shares of the exchange traded fund’s stock after selling 1,851 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Invesco QQQ were worth $9,266,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Flatrock Wealth Partners LLC acquired a new position in Invesco QQQ in the 1st quarter worth approximately $924,000. Hegarty Advisors LLC purchased a new position in Invesco QQQ during the first quarter valued at approximately $2,212,000. Ascension Capital Advisors Inc. grew its holdings in shares of Invesco QQQ by 643.8% during the 1st quarter. Ascension Capital Advisors Inc. now owns 3,094 shares of the exchange traded fund’s stock valued at $1,786,000 after acquiring an additional 2,678 shares in the last quarter. Financial Insights Inc. boosted its position in Invesco QQQ by 6.8% during the second quarter. Financial Insights Inc. now owns 29,790 shares of the exchange traded fund’s stock valued at $21,938,000 after purchasing an additional 1,901 shares during the last quarter. Finally, First Bancorp Inc ME acquired a new position in Invesco QQQ in the 2nd quarter worth about $677,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ traded up $4.92 during midday trading on Monday, reaching $754.50. The stock had a trading volume of 13,845,150 shares, compared to its average volume of 48,412,902. Invesco QQQ has a 1-year low of $555.60 and a 1-year high of $754.59. The firm’s fifty day simple moving average is $717.51 and its 200-day simple moving average is $693.06.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Monday, September 21st will be issued a dividend of $0.7514 per share. The ex-dividend date of this dividend is Monday, September 21st. This is a drop from Invesco QQQ’s previous quarterly dividend of $0.8135. This represents a $3.01 dividend on an annualized basis and a dividend yield of 0.4%.

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.