Country Club Bank Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

On October 27, 2024, it was reported that Country Club Bank has reduced its holdings in Invesco QQQ (NASDAQ:QQQ) by 12.1% during the third quarter of the year. According to HoldingsChannel.com, the bank held 3,301 shares of this popular exchange-traded fund (ETF) after selling 455 shares over the quarter. By the end of this period, the value of Country Club Bank's stake in Invesco QQQ amounted to approximately $1,607,000.

Other institutional investors have also made moves regarding their positions in Invesco QQQ. For instance, Joel Isaacson & Co. LLC increased its stake by 24.4% during the same quarter, now owning 24,033 shares valued at about $11,730,000 after acquiring an additional 4,707 shares. O'Brien Wealth Partners LLC took a new position in Invesco QQQ, investing $379,000. Additionally, Sigma Investment Counselors Inc. raised its stake by 7.0%, ending up with 21,163 shares worth around $10,329,000 after obtaining another 1,393 shares. Pettinga Financial Advisors LLC also boosted its holdings by 13.6%, bringing its total to 15,475 shares valued at $7,553,000 after purchasing an extra 1,854 shares. Lastly, Massachusetts Wealth Management increased its stake by 3.2%, owning now 4,817 shares valued at $2,351,000 after buying an additional 150 shares. Overall, hedge funds and institutional investors collectively own 44.58% of the company's stock.

Invesco QQQ Performance Overview

As of Friday, shares of Invesco QQQ opened at $495.32. The ETF has shown notable performance trends, evidenced by its fifty-day simple moving average of $480.51 and a two-hundred-day simple moving average of $466.85. Over the past 12 months, Invesco QQQ has reached a low of $342.35 and a peak of $503.52.

Dividend Announcement by Invesco QQQ

Recently, Invesco QQQ also announced a quarterly dividend to be paid on Thursday, October 31st. Shareholders who are on record as of Monday, September 23rd, will receive a dividend of $0.677 per share. This dividend translates to an annualized figure of $2.71, reflecting a yield of 0.55%. The ex-dividend date for this payout is set for the same Monday, September 23rd.

Understanding Invesco QQQ

PowerShares QQQ Trust, Series 1, is a unit investment trust that issues what are known as Nasdaq-100 Index Tracking Stocks. The investment goal for this Trust is to yield results that generally align with the price and yield performance of the Nasdaq-100 Index. It allows investors to purchase units representing proportionate and undivided interests in the portfolio of securities held by the Trust, which includes most of the component securities of the Nasdaq-100 Index in similar weightings.

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Stay updated on what other hedge funds are doing with QQQ. Visit HoldingsChannel.com for the latest filings and insider trades related to Invesco QQQ (NASDAQ:QQQ).

Bank, Investments, Holdings