Bank of Marin Sells 28 Shares of Invesco QQQ (NASDAQ:QQQ)

Bank of Marin lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,374 shares of the exchange traded fund’s stock after selling 28 shares during the period. Invesco QQQ accounts for about 1.7% of Bank of Marin’s holdings, making the stock its 13th biggest position. Bank of Marin’s holdings in Invesco QQQ were worth $2,135,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in QQQ. Westwood Holdings Group Inc. lifted its position in Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after buying an additional 1,993 shares during the period. Socha Financial Group LLC boosted its stake in Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after acquiring an additional 2,171 shares in the last quarter. Bank Hapoalim BM increased its stake in shares of Invesco QQQ by 5.5% during the third quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after purchasing an additional 6,347 shares in the last quarter. Arrow Financial Corp lifted its holdings in shares of Invesco QQQ by 7.2% during the third quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock valued at $68,997,000 after purchasing an additional 9,516 shares during the last quarter. Finally, SVB Wealth LLC increased its position in Invesco QQQ by 15.2% during the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after buying an additional 2,453 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $6.56 during mid-day trading on Friday, reaching $502.13. The company’s stock had a trading volume of 6,559,689 shares, compared to its average volume of 38,051,160. The firm’s fifty day moving average price is $488.38 and its two-hundred day moving average price is $473.67. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.54%.

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.