Trust Co. of Virginia VA Takes $306,000 Position in Invesco QQQ (NASDAQ:QQQ)

Trust Co. of Virginia VA acquired a new stake in Invesco QQQ (NASDAQ:QQQ) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 689 shares of the exchange traded fund’s stock, valued at approximately $306,000.

Several other institutional investors have also modified their holdings of the company. Atwater Malick LLC purchased a new position in shares of Invesco QQQ in the first quarter worth approximately $293,000. Bank Hapoalim BM boosted its stake in Invesco QQQ by 6.3% in the 4th quarter. Bank Hapoalim BM now owns 77,333 shares of the exchange traded fund’s stock worth $31,669,000 after purchasing an additional 4,549 shares during the period. Aviance Capital Partners LLC grew its position in Invesco QQQ by 29.7% during the 4th quarter. Aviance Capital Partners LLC now owns 4,514 shares of the exchange traded fund’s stock worth $1,848,000 after purchasing an additional 1,033 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Invesco QQQ by 6.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund’s stock valued at $1,530,696,000 after purchasing an additional 243,305 shares during the period. Finally, GenWealth Group Inc. lifted its stake in Invesco QQQ by 5.8% in the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock worth $18,851,000 after acquiring an additional 2,325 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.5 %

Shares of QQQ opened at $479.11 on Friday. The business’s 50-day moving average is $454.85 and its 200-day moving average is $436.54. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $487.20.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be paid a dividend of $0.7615 per share. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.64%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

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.