CIBC Asset Management Inc Sells 41,337 Shares of Invesco QQQ (NASDAQ:QQQ)

CIBC Asset Management Inc lessened its position in Invesco QQQ (NASDAQ:QQQ) by 47.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,002 shares of the exchange traded fund’s stock after selling 41,337 shares during the period. CIBC Asset Management Inc’s holdings in Invesco QQQ were worth $21,964,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the first quarter valued at approximately $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the second quarter worth $30,000. Chelsea Counsel Co. bought a new stake in Invesco QQQ during the first quarter worth about $40,000. CGC Financial Services LLC grew its stake in Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its holdings in Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 103 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 2.4 %

Shares of Invesco QQQ stock opened at $496.57 on Friday. The company has a 50 day moving average of $488.38 and a 200-day moving average of $473.67. Invesco QQQ has a 1-year low of $382.66 and a 1-year high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

Invesco QQQ Company 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.