Montecito Bank & Trust Cuts Position in Invesco QQQ (NASDAQ:QQQ)

Montecito Bank & Trust cut its stake in Invesco QQQ (NASDAQ:QQQ) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,277 shares of the exchange traded fund’s stock after selling 421 shares during the quarter. Invesco QQQ comprises about 0.8% of Montecito Bank & Trust’s portfolio, making the stock its 29th biggest position. Montecito Bank & Trust’s holdings in Invesco QQQ were worth $4,350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Proficio Capital Partners LLC grew its stake in Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after buying an additional 11,478,188 shares during the last quarter. NWI Management LP grew its stake in Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after buying an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC grew its stake in Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after buying an additional 1,868,580 shares during the last quarter. Senator Investment Group LP purchased a new position in Invesco QQQ during the 4th quarter worth $679,936,000. Finally, Artemis Wealth Advisors LLC grew its stake in Invesco QQQ by 1,337.4% during the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock worth $423,470,000 after buying an additional 895,277 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ opened at $526.96 on Monday. The stock has a 50-day moving average of $492.58 and a two-hundred day moving average of $502.73. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The stock has a market cap of $330.22 billion, a P/E ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were given a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

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.