Ferguson Wellman Capital Management Inc. Has $4.99 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Ferguson Wellman Capital Management Inc. cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,233 shares of the exchange traded fund’s stock after selling 1,157 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Invesco QQQ were worth $4,994,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the 1st quarter valued at about $28,000. Mechanics Financial Corp bought a new position in Invesco QQQ during the 2nd quarter valued at $30,000. Chelsea Counsel Co. purchased a new position in Invesco QQQ during the 1st quarter worth $40,000. CGC Financial Services LLC grew its stake in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after purchasing an additional 24 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Up 0.7 %

Shares of QQQ stock opened at $494.47 on Friday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The company has a 50-day simple moving average of $477.68 and a two-hundred day simple moving average of $464.99.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. 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.