Sandy Spring Bank Lowers Stock Holdings in Invesco QQQ Trust (NASDAQ:QQQ)

Sandy Spring Bank decreased its position in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 2.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,169 shares of the exchange traded fund’s stock after selling 960 shares during the quarter. Sandy Spring Bank’s holdings in Invesco QQQ Trust were worth $7,875,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Murphy Middleton Hinkle & Parker Inc. increased its holdings in shares of Invesco QQQ Trust by 1.8% in the 2nd quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,872 shares of the exchange traded fund’s stock worth $536,000 after buying an additional 52 shares during the last quarter. Carmichael Hill & Associates Inc. increased its holdings in shares of Invesco QQQ Trust by 1.4% in the 1st quarter. Carmichael Hill & Associates Inc. now owns 3,730 shares of the exchange traded fund’s stock worth $670,000 after buying an additional 53 shares during the last quarter. Renaissance Investment Group LLC increased its holdings in shares of Invesco QQQ Trust by 3.0% in the 1st quarter. Renaissance Investment Group LLC now owns 1,851 shares of the exchange traded fund’s stock worth $333,000 after buying an additional 54 shares during the last quarter. Middleton & Co Inc MA increased its holdings in shares of Invesco QQQ Trust by 3.3% in the 1st quarter. Middleton & Co Inc MA now owns 1,870 shares of the exchange traded fund’s stock worth $336,000 after buying an additional 60 shares during the last quarter. Finally, Seelaus Asset Management LLC increased its holdings in shares of Invesco QQQ Trust by 1.4% in the 1st quarter. Seelaus Asset Management LLC now owns 4,255 shares of the exchange traded fund’s stock worth $764,000 after buying an additional 60 shares during the last quarter. Institutional investors own 40.07% of the company’s stock.

Shares of Invesco QQQ Trust stock traded down $0.48 during trading hours on Wednesday, reaching $183.87. The company’s stock had a trading volume of 16,689,690 shares, compared to its average volume of 34,251,000. The business’s 50 day simple moving average is $190.10. Invesco QQQ Trust has a one year low of $143.46 and a one year high of $195.55.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, June 25th were issued a $0.416 dividend. The ex-dividend date was Monday, June 24th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.91%.

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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