Montecito Bank & Trust Raises Holdings in Invesco QQQ (NASDAQ:QQQ)

Montecito Bank & Trust lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,929 shares of the exchange traded fund’s stock after purchasing an additional 67 shares during the quarter. Invesco QQQ accounts for about 0.8% of Montecito Bank & Trust’s investment portfolio, making the stock its 27th biggest holding. Montecito Bank & Trust’s holdings in Invesco QQQ were worth $4,846,000 as of its most recent SEC filing.

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

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $505.58 on Thursday. The stock’s 50-day simple moving average is $483.00 and its two-hundred day simple moving average is $470.34. Invesco QQQ has a 52-week low of $369.05 and a 52-week high of $506.41.

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 paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, September 23rd.

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.