CIBC Asset Management Inc Sells 41,337 Shares of Invesco QQQ (NASDAQ:QQQ)

CIBC Asset Management Inc trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 47.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,002 shares of the exchange traded fund's stock after selling 41,337 shares during the quarter. CIBC Asset Management Inc's holdings in Invesco QQQ were worth $21,964,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its holdings in shares of Invesco QQQ by 46,491.6% during the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund's stock worth $15,904,322,000 after buying an additional 32,516,210 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Invesco QQQ by 7.3% during the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund's stock worth $2,379,676,000 after purchasing an additional 338,494 shares during the last quarter. Steel Grove Capital Advisors LLC grew its position in Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund's stock valued at $1,525,067,000 after purchasing an additional 3,102,568 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Invesco QQQ by 1.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund's stock valued at $1,532,904,000 after buying an additional 33,790 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund's stock worth $13,307,000 after buying an additional 2,762,571 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 2.4 %

Shares of Invesco QQQ stock traded down $12.12 during trading hours on Friday, reaching $496.57. 51,461,054 shares of the company's stock were exchanged, compared to its average volume of 38,252,949. The company has a 50 day moving average of $489.33 and a two-hundred day moving average of $474.11. Invesco QQQ has a fifty-two week low of $382.66 and a fifty-two week high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%.

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.