Traders sold shares of Invesco QQQ Trust (NASDAQ:QQQ) on strength during trading hours on Wednesday. $1,300.97 million flowed into the stock on the tick-up and $1,335.54 million flowed out of the stock on the tick-down, for a money net flow of $34.57 million out of the stock. Of all equities tracked, Invesco QQQ Trust had the 0th highest net out-flow for the day. Invesco QQQ Trust traded up $0.07 for the day and closed at $177.29
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Tuesday, September 25th will be given a dividend of $0.3298 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Monday, September 24th.
A number of institutional investors have recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC lifted its position in Invesco QQQ Trust by 17,565.4% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 4,183,694 shares of the exchange traded fund’s stock worth $24,211,000 after acquiring an additional 4,160,011 shares during the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Invesco QQQ Trust during the second quarter valued at about $434,551,000. CHURCHILL MANAGEMENT Corp raised its position in shares of Invesco QQQ Trust by 51.4% during the third quarter. CHURCHILL MANAGEMENT Corp now owns 1,863,514 shares of the exchange traded fund’s stock valued at $346,222,000 after buying an additional 633,057 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Invesco QQQ Trust by 7.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,477,438 shares of the exchange traded fund’s stock valued at $253,613,000 after buying an additional 101,264 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Invesco QQQ Trust by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 1,345,987 shares of the exchange traded fund’s stock valued at $231,039,000 after buying an additional 53,897 shares during the last quarter. 40.74% of the stock is owned by hedge funds and other institutional investors.
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.
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