Montecito Bank & Trust Cuts Position in Invesco QQQ (NASDAQ:QQQ)

Montecito Bank & Trust lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 4.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 9,277 shares of the exchange traded fund’s stock after selling 421 shares during the quarter. Invesco QQQ comprises about 0.8% of Montecito Bank & Trust’s holdings, making the stock its 29th biggest position. Montecito Bank & Trust’s holdings in Invesco QQQ were worth $4,350,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of QQQ. Proficio Capital Partners LLC increased its stake in Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after buying an additional 11,478,188 shares in the last quarter. NWI Management LP increased its stake in Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after buying an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC increased its stake in Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Senator Investment Group LP purchased a new stake in Invesco QQQ during the 4th quarter worth approximately $679,936,000. Finally, Artemis Wealth Advisors LLC increased its stake in Invesco QQQ by 1,337.4% during the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock worth $423,470,000 after buying an additional 895,277 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 1.3%

NASDAQ:QQQ opened at $526.96 on Monday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The stock has a 50 day moving average of $492.58 and a two-hundred day moving average of $502.73. The firm has a market cap of $330.22 billion, a P/E ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were given a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

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.