Invesco QQQ (NASDAQ:QQQ) Position Decreased by Davis Capital Management

Davis Capital Management lowered its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,005 shares of the exchange traded fund’s stock after selling 30 shares during the period. Davis Capital Management’s holdings in Invesco QQQ were worth $491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ in the first quarter worth about $28,000. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ during the first quarter valued at approximately $29,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ in the 2nd quarter valued at approximately $30,000. Voisard Asset Management Group Inc. acquired a new position in Invesco QQQ in the 4th quarter worth approximately $35,000. Finally, Chelsea Counsel Co. acquired a new position in Invesco QQQ in the 1st quarter worth approximately $40,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $481.95 on Thursday. The company’s fifty day moving average is $468.60 and its two-hundred day moving average is $461.03. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.56%. The ex-dividend date is Monday, September 23rd.

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.