Chemung Canal Trust Co. Sells 510 Shares of Invesco QQQ (NASDAQ:QQQ)

Chemung Canal Trust Co. lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,822 shares of the exchange traded fund’s stock after selling 510 shares during the quarter. Invesco QQQ makes up approximately 1.6% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 22nd largest position. Chemung Canal Trust Co.’s holdings in Invesco QQQ were worth $7,722,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. First Citizens Financial Corp increased its position in Invesco QQQ by 49.8% during the third quarter. First Citizens Financial Corp now owns 4,063 shares of the exchange traded fund’s stock worth $1,983,000 after buying an additional 1,350 shares during the last quarter. Duncan Williams Asset Management LLC grew its position in shares of Invesco QQQ by 13.3% in the third quarter. Duncan Williams Asset Management LLC now owns 10,962 shares of the exchange traded fund’s stock valued at $5,350,000 after purchasing an additional 1,284 shares during the last quarter. Private Client Services LLC grew its position in shares of Invesco QQQ by 13.0% in the third quarter. Private Client Services LLC now owns 6,315 shares of the exchange traded fund’s stock valued at $3,082,000 after purchasing an additional 727 shares during the last quarter. Capital Market Strategies LLC grew its position in shares of Invesco QQQ by 3.5% in the third quarter. Capital Market Strategies LLC now owns 4,599 shares of the exchange traded fund’s stock valued at $2,245,000 after purchasing an additional 156 shares during the last quarter. Finally, Monterey Private Wealth Inc. grew its position in shares of Invesco QQQ by 8.7% in the third quarter. Monterey Private Wealth Inc. now owns 13,840 shares of the exchange traded fund’s stock valued at $6,755,000 after purchasing an additional 1,111 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock traded up $2.91 on Friday, hitting $484.50. The stock had a trading volume of 13,344,992 shares, compared to its average volume of 39,589,184. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The business’s 50 day moving average is $469.07 and its two-hundred day moving average is $461.18.

Invesco QQQ Cuts Dividend

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

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.