CIBC Asset Management Inc Has $21.96 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

CIBC Asset Management Inc lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 47.9% during the third quarter, HoldingsChannel reports. The fund owned 45,002 shares of the exchange traded fund’s stock after selling 41,337 shares during the quarter. CIBC Asset Management Inc’s holdings in Invesco QQQ were worth $21,964,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the first quarter worth $28,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ in the 2nd quarter valued at about $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ during the first quarter worth about $40,000. CGC Financial Services LLC lifted its stake in shares of Invesco QQQ by 736.4% in the second 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 during the period. Finally, PFG Private Wealth Management LLC boosted its holdings in Invesco QQQ by 572.2% in the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 2.4 %

NASDAQ:QQQ opened at $496.57 on Friday. Invesco QQQ has a 52 week low of $382.66 and a 52 week high of $515.58. The firm’s fifty day moving average is $488.38 and its 200-day moving average is $473.67.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 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.