Penobscot Investment Management Company Inc. Sells 144 Shares of Invesco QQQ (NASDAQ:QQQ)

Penobscot Investment Management Company Inc. reduced its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,368 shares of the exchange traded fund’s stock after selling 144 shares during the quarter. Invesco QQQ comprises 1.9% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 8th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Invesco QQQ were worth $16,532,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in QQQ. Cozad Asset Management Inc. lifted its stake in Invesco QQQ by 15.4% during the fourth quarter. Cozad Asset Management Inc. now owns 11,374 shares of the exchange traded fund’s stock worth $4,658,000 after purchasing an additional 1,517 shares during the period. Kestra Private Wealth Services LLC increased its holdings in shares of Invesco QQQ by 33.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 74,858 shares of the exchange traded fund’s stock valued at $30,656,000 after purchasing an additional 18,850 shares in the last quarter. LWM Advisory Services LLC increased its holdings in shares of Invesco QQQ by 217.8% in the fourth quarter. LWM Advisory Services LLC now owns 4,653 shares of the exchange traded fund’s stock valued at $1,906,000 after purchasing an additional 3,189 shares in the last quarter. Steele Capital Management Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $85,017,000. Finally, Fernwood Investment Management LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $761,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded down $4.95 during midday trading on Tuesday, reaching $427.80. The company had a trading volume of 16,427,413 shares, compared to its average volume of 45,562,227. The stock has a fifty day simple moving average of $436.92 and a 200 day simple moving average of $411.12. Invesco QQQ has a 1-year low of $315.11 and a 1-year high of $449.34.

Invesco QQQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be issued a dividend of $0.5735 per share. This represents a $2.29 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Monday, March 18th.

Invesco QQQ 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.