Bell Bank Sells 237,498 Shares of Invesco QQQ (NASDAQ:QQQ)

Bell Bank reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 57.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 179,162 shares of the exchange traded fund’s stock after selling 237,498 shares during the quarter. Invesco QQQ makes up 10.3% of Bell Bank’s investment portfolio, making the stock its 2nd biggest holding. Bell Bank’s holdings in Invesco QQQ were worth $87,444,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Westwood Holdings Group Inc. boosted its stake in Invesco QQQ by 14.1% in the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after acquiring an additional 1,993 shares in the last quarter. Socha Financial Group LLC boosted its position in shares of Invesco QQQ by 2.4% in the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares during the period. Bank Hapoalim BM grew its stake in Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after buying an additional 6,347 shares during the last quarter. Arrow Financial Corp increased its position in Invesco QQQ by 7.2% during the third quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock worth $68,997,000 after buying an additional 9,516 shares during the period. Finally, SVB Wealth LLC lifted its stake in Invesco QQQ by 15.2% in the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after buying an additional 2,453 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $512.25 on Thursday. The company’s 50 day simple moving average is $486.39 and its 200-day simple moving average is $473.15. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.53%. The ex-dividend date was 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.