First Citizens Bank & Trust Co. Decreases Stock Position in Invesco QQQ $QQQ

First Citizens Bank & Trust Co. cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,666 shares of the exchange traded fund’s stock after selling 147 shares during the period. First Citizens Bank & Trust Co.’s holdings in Invesco QQQ were worth $3,126,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Invesco QQQ in the 2nd quarter worth about $30,000. Marshall & Sullivan Inc. WA purchased a new stake in shares of Invesco QQQ in the 2nd quarter worth about $41,000. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ in the 1st quarter worth about $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter worth about $51,000. Finally, Blume Capital Management Inc. boosted its position in shares of Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after buying an additional 2,536 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $610.58 on Friday. The company’s 50-day moving average is $589.82 and its two-hundred day moving average is $544.88. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $613.18.

Invesco QQQ Increases Dividend

The company 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. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%.

Invesco QQQ Company 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.