Essex Savings Bank Cuts Stake in Invesco QQQ Trust (NASDAQ:QQQ)

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Essex Savings Bank cut its stake in Invesco QQQ Trust (NASDAQ:QQQ) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,110 shares of the exchange traded fund’s stock after selling 458 shares during the quarter. Invesco QQQ Trust comprises about 0.9% of Essex Savings Bank’s investment portfolio, making the stock its 26th biggest position. Essex Savings Bank’s holdings in Invesco QQQ Trust were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Dearborn Partners LLC increased its position in shares of Invesco QQQ Trust by 1.1% during the first quarter. Dearborn Partners LLC now owns 3,876 shares of the exchange traded fund’s stock worth $738,000 after acquiring an additional 44 shares during the last quarter. Grimes & Company Inc. increased its position in shares of Invesco QQQ Trust by 1.4% during the first quarter. Grimes & Company Inc. now owns 3,393 shares of the exchange traded fund’s stock worth $646,000 after acquiring an additional 47 shares during the last quarter. Lucia Wealth Services LLC increased its position in shares of Invesco QQQ Trust by 12.5% during the first quarter. Lucia Wealth Services LLC now owns 422 shares of the exchange traded fund’s stock worth $80,000 after acquiring an additional 47 shares during the last quarter. Integer Wealth Advisors Group LLC increased its position in shares of Invesco QQQ Trust by 0.6% during the second quarter. Integer Wealth Advisors Group LLC now owns 7,616 shares of the exchange traded fund’s stock worth $1,997,000 after acquiring an additional 47 shares during the last quarter. Finally, PBMares Wealth Management LLC increased its position in shares of Invesco QQQ Trust by 2.7% during the second quarter. PBMares Wealth Management LLC now owns 1,840 shares of the exchange traded fund’s stock worth $456,000 after acquiring an additional 48 shares during the last quarter. 42.71% of the stock is currently owned by institutional investors.

Separately, ValuEngine downgraded Invesco QQQ Trust from a “hold” rating to a “sell” rating in a research note on Thursday, July 2nd.

NASDAQ:QQQ traded up $4.66 during mid-day trading on Friday, reaching $265.79. The stock had a trading volume of 53,756,159 shares, compared to its average volume of 40,239,296. Invesco QQQ Trust has a 1-year low of $164.93 and a 1-year high of $269.79. The stock’s 50 day simple moving average is $252.05 and its two-hundred day simple moving average is $224.26.

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 23rd were paid a $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 0.64%. This is an increase from Invesco QQQ Trust’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Monday, June 22nd.

Invesco QQQ Trust 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.

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Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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