CIBC Private Wealth Group LLC Sells 855 Shares of Invesco QQQ Trust (NASDAQ:QQQ)

CIBC Private Wealth Group LLC trimmed its stake in Invesco QQQ Trust (NASDAQ:QQQ – Get Rating) by 0.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 97,795 shares of the exchange traded fund’s stock after selling 855 shares during the period. CIBC Private Wealth Group LLC’s holdings in Invesco QQQ Trust were worth $26,137,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. CMT Capital Markets Trading GmbH acquired a new stake in Invesco QQQ Trust in the 3rd quarter valued at approximately $1,943,000. Covington Capital Management grew its holdings in Invesco QQQ Trust by 31.8% in the 3rd quarter. Covington Capital Management now owns 5,374 shares of the exchange traded fund’s stock valued at $1,436,000 after buying an additional 1,297 shares during the last quarter. Drive Wealth Management LLC acquired a new stake in Invesco QQQ Trust in the 3rd quarter valued at approximately $627,000. Fayez Sarofim & Co grew its holdings in Invesco QQQ Trust by 1.7% in the 3rd quarter. Fayez Sarofim & Co now owns 4,745 shares of the exchange traded fund’s stock valued at $1,268,000 after buying an additional 80 shares during the last quarter. Finally, Kensington Investment Counsel LLC grew its holdings in Invesco QQQ Trust by 1.7% in the 3rd quarter. Kensington Investment Counsel LLC now owns 5,352 shares of the exchange traded fund’s stock valued at $1,430,000 after buying an additional 88 shares during the last quarter. 43.08% of the stock is owned by institutional investors.

Invesco QQQ Trust Price Performance

Shares of NASDAQ:QQQ opened at $297.37 on Wednesday. Invesco QQQ Trust has a 1-year low of $254.26 and a 1-year high of $371.83. The business’s 50 day moving average is $291.82 and its 200-day moving average is $284.23.

Invesco QQQ Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 23rd. Stockholders of record on Tuesday, December 20th were issued a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, December 19th. This is a positive change from Invesco QQQ Trust’s previous quarterly dividend of $0.52.

Invesco QQQ Trust Company Profile

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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.