AMG National Trust Bank Reduces Position in Invesco QQQ (NASDAQ:QQQ)

AMG National Trust Bank lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,774 shares of the exchange traded fund's stock after selling 2,581 shares during the quarter. Invesco QQQ comprises about 1.2% of AMG National Trust Bank's holdings, making the stock its 19th largest position. AMG National Trust Bank's holdings in Invesco QQQ were worth $43,816,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in Invesco QQQ in the first quarter valued at about $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Chelsea Counsel Co. acquired a new position in Invesco QQQ during the first quarter worth $40,000. CGC Financial Services LLC raised its position in Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund's stock worth $44,000 after acquiring an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC lifted its holdings in Invesco QQQ by 572.2% in the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund's stock valued at $58,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ traded up $3.45 during trading on Monday, hitting $500.02. 26,839,154 shares of the company were exchanged, compared to its average volume of 38,203,082. The firm's fifty day moving average price is $490.25 and its 200 day moving average price is $475.35. 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. Investors of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, September 23rd.

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.