Cutter & CO Brokerage Inc. Sells 62 Shares of Invesco QQQ (NASDAQ:QQQ)

Cutter & CO Brokerage Inc. cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.2% during the first quarter, Holdings Channel reports. The fund owned 5,195 shares of the exchange traded fund’s stock after selling 62 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Invesco QQQ were worth $2,307,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of QQQ. International Assets Investment Management LLC raised its position in Invesco QQQ by 40,957.3% in the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after purchasing an additional 28,263,426 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Invesco QQQ during the first quarter valued at $1,580,776,000. CHURCHILL MANAGEMENT Corp boosted its holdings in Invesco QQQ by 30.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock valued at $819,814,000 after acquiring an additional 433,317 shares during the last quarter. Comerica Bank bought a new position in Invesco QQQ in the third quarter valued at about $140,657,000. Finally, Granite Bay Wealth Management LLC increased its position in Invesco QQQ by 47.1% in the fourth quarter. Granite Bay Wealth Management LLC now owns 1,183,279 shares of the exchange traded fund’s stock worth $451,075,000 after purchasing an additional 378,922 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock traded up $5.12 during trading hours on Friday, reaching $496.16. 27,869,335 shares of the company’s stock traded hands, compared to its average volume of 40,549,199. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $496.60. The firm’s 50 day moving average is $459.98 and its 200-day moving average is $438.63.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be issued a $0.7615 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Monday, June 24th.

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.