Brown Brothers Harriman & Co. Lowers Holdings in Invesco QQQ (NASDAQ:QQQ)

Brown Brothers Harriman & Co. reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 25.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,864 shares of the exchange traded fund’s stock after selling 3,693 shares during the period. Brown Brothers Harriman & Co.’s holdings in Invesco QQQ were worth $5,302,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in shares of Invesco QQQ during the first quarter worth $28,000. Mechanics Financial Corp purchased a new position in Invesco QQQ in the second quarter valued at $30,000. Chelsea Counsel Co. acquired a new position in Invesco QQQ during the 1st quarter worth $40,000. CGC Financial Services LLC increased its holdings 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 purchasing an additional 81 shares during the period. Finally, Legacy Bridge LLC raised 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 purchasing an additional 45 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.2 %

Shares of QQQ opened at $506.59 on Tuesday. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58. The stock has a 50-day simple moving average of $493.75 and a 200-day simple moving average of $477.65.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.53%.

Invesco QQQ 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.