B & T Capital Management DBA Alpha Capital Management Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

B & T Capital Management DBA Alpha Capital Management cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 9.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 91,095 shares of the exchange traded fund’s stock after selling 9,642 shares during the period. Invesco QQQ accounts for approximately 8.4% of B & T Capital Management DBA Alpha Capital Management’s portfolio, making the stock its biggest position. B & T Capital Management DBA Alpha Capital Management’s holdings in Invesco QQQ were worth $44,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. New Covenant Trust Company N.A. bought a new position in Invesco QQQ during the first quarter worth about $28,000. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ during the first quarter worth about $29,000. Mechanics Financial Corp bought a new position in Invesco QQQ during the second quarter worth about $30,000. Voisard Asset Management Group Inc. bought a new position in Invesco QQQ during the fourth quarter worth about $35,000. Finally, Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ in the first quarter valued at about $40,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded up $0.27 during trading on Thursday, reaching $493.42. The stock had a trading volume of 14,884,392 shares, compared to its average volume of 39,351,438. The stock has a fifty day moving average price of $471.00 and a two-hundred day moving average price of $462.58. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.