Arvest Bank Trust Division acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 44,184 shares of the exchange traded fund's stock, valued at approximately $21,565,000. Invesco QQQ comprises 1.2% of Arvest Bank Trust Division's portfolio, making the stock its 21st biggest position.
Other institutional investors have also recently added to or reduced their stakes in the company. Mechanics Financial Corp purchased a new stake in Invesco QQQ in the 2nd quarter valued at $30,000. Legacy Bridge LLC increased its position in Invesco QQQ by 60.0% in the 3rd 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 period. BNP Paribas purchased a new stake in Invesco QQQ during the 3rd quarter valued at approximately $62,000. CarsonAllaria Wealth Management Ltd. lifted its position in Invesco QQQ by 27.2% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 131 shares of the exchange traded fund's stock worth $63,000 after acquiring an additional 28 shares during the period. Finally, Bray Capital Advisors lifted its position in Invesco QQQ by 78.0% during the 2nd quarter. Bray Capital Advisors now owns 146 shares of the exchange traded fund's stock worth $70,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.
Invesco QQQ Stock Down 0.6 %
Shares of QQQ stock traded down $3.42 during mid-day trading on Thursday, hitting $526.50. The stock had a trading volume of 23,380,307 shares, compared to its average volume of 37,237,086. The company's 50-day simple moving average is $502.02 and its 200-day simple moving average is $482.98. Invesco QQQ has a fifty-two week low of $395.34 and a fifty-two week high of $530.61.
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 0.51%. The ex-dividend date was Monday, September 23rd.
Invesco QQQ Profile
(
Free Report)
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.
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