AMG National Trust Bank Sells 2,581 Shares of Invesco QQQ (NASDAQ:QQQ)

AMG National Trust Bank cut its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,774 shares of the exchange traded fund’s stock after selling 2,581 shares during the period. Invesco QQQ comprises 1.2% of AMG National Trust Bank’s portfolio, making the stock its 19th biggest position. AMG National Trust Bank’s holdings in Invesco QQQ were worth $43,816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of QQQ. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ during the 1st quarter worth $28,000. Mechanics Financial Corp purchased a new stake in Invesco QQQ during the 2nd quarter worth approximately $30,000. Chelsea Counsel Co. purchased a new stake in Invesco QQQ during the 1st quarter worth approximately $40,000. CGC Financial Services LLC increased its stake in Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 103 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 2.4 %

NASDAQ:QQQ opened at $496.57 on Monday. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58. The stock has a 50 day moving average price of $489.33 and a 200 day moving average price of $474.83.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend 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.