Cullen Frost Bankers Inc. Has $8.13 Million Position in Invesco QQQ $QQQ

Cullen Frost Bankers Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,738 shares of the exchange traded fund’s stock after selling 473 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Invesco QQQ were worth $8,130,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Smith Thornton Advisors LLC grew its position in Invesco QQQ by 2.3% during the second quarter. Smith Thornton Advisors LLC now owns 5,165 shares of the exchange traded fund’s stock worth $2,849,000 after buying an additional 114 shares in the last quarter. Pacific Sun Financial Corp grew its position in Invesco QQQ by 0.8% during the second quarter. Pacific Sun Financial Corp now owns 5,946 shares of the exchange traded fund’s stock worth $3,280,000 after buying an additional 46 shares in the last quarter. IMG Wealth Management Inc. grew its position in Invesco QQQ by 3.3% during the second quarter. IMG Wealth Management Inc. now owns 12,607 shares of the exchange traded fund’s stock worth $6,955,000 after buying an additional 399 shares in the last quarter. Advantage Trust Co acquired a new stake in Invesco QQQ during the second quarter worth approximately $165,000. Finally, Lionsbridge Wealth Management LLC acquired a new stake in Invesco QQQ during the second quarter worth approximately $5,569,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.0%

Shares of QQQ stock opened at $605.49 on Thursday. The stock’s fifty day moving average price is $589.20 and its two-hundred day moving average price is $543.59. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18.

Invesco QQQ Increases Dividend

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

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.