Invesco QQQ $QQQ Shares Acquired by Chemung Canal Trust Co.

Chemung Canal Trust Co. boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,050 shares of the exchange traded fund’s stock after purchasing an additional 183 shares during the quarter. Invesco QQQ makes up 1.9% of Chemung Canal Trust Co.’s portfolio, making the stock its 15th biggest holding. Chemung Canal Trust Co.’s holdings in Invesco QQQ were worth $8,854,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in QQQ. Marshall & Sullivan Inc. WA purchased a new position in Invesco QQQ during the second quarter worth approximately $41,000. Alpine Bank Wealth Management purchased a new position in shares of Invesco QQQ in the 1st quarter worth $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ in the first quarter valued at $51,000. Blume Capital Management Inc. grew its position in Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after acquiring an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC increased its stake in Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 120 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $603.18 on Monday. The firm has a fifty day moving average of $579.85 and a 200-day moving average of $532.54. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $607.33.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.694 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 22nd.

About Invesco QQQ

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.