Woodmont Investment Counsel LLC Has $3.47 Million Position in Invesco QQQ (NASDAQ:QQQ)

Woodmont Investment Counsel LLC reduced its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,099 shares of the exchange traded fund’s stock after selling 22 shares during the period. Woodmont Investment Counsel LLC’s holdings in Invesco QQQ were worth $3,465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ in the 1st quarter valued at about $28,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ during the 2nd quarter worth about $30,000. Chelsea Counsel Co. acquired a new position in Invesco QQQ in the 1st quarter valued at about $40,000. CGC Financial Services LLC raised its holdings in Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after acquiring an additional 24 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 2.7 %

Invesco QQQ stock opened at $505.58 on Thursday. Invesco QQQ has a 12 month low of $369.05 and a 12 month high of $506.41. The stock’s 50 day moving average is $483.00 and its 200-day moving average is $470.34.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, September 23rd.

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.