Penobscot Investment Management Company Inc. Sells 1,133 Shares of Invesco QQQ $QQQ

Penobscot Investment Management Company Inc. trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 38,561 shares of the exchange traded fund’s stock after selling 1,133 shares during the quarter. Invesco QQQ makes up approximately 1.8% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 11th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Invesco QQQ were worth $21,272,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QQQ. Brighton Jones LLC lifted its position in Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after purchasing an additional 4,989 shares during the period. Revolve Wealth Partners LLC increased its holdings in Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after buying an additional 176 shares during the period. Wealth Group Ltd. lifted its holdings in shares of Invesco QQQ by 305.2% during the 1st quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock worth $3,010,000 after acquiring an additional 4,835 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Invesco QQQ by 299.6% during the 1st quarter. Sivia Capital Partners LLC now owns 2,202 shares of the exchange traded fund’s stock worth $1,033,000 after acquiring an additional 1,651 shares during the period. Finally, LexAurum Advisors LLC boosted its position in shares of Invesco QQQ by 0.3% during the 1st quarter. LexAurum Advisors LLC now owns 11,188 shares of the exchange traded fund’s stock valued at $5,246,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $603.18 on Monday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $607.33. The company’s 50-day simple moving average is $579.85 and its 200 day simple moving average is $532.54.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 22nd. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59.

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.