Montecito Bank & Trust Has $9.03 Million Stock Holdings in Invesco QQQ Trust (NASDAQ:QQQ)

Montecito Bank & Trust trimmed its position in Invesco QQQ Trust (NASDAQ:QQQ) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,507 shares of the exchange traded fund’s stock after selling 819 shares during the quarter. Invesco QQQ Trust comprises approximately 2.3% of Montecito Bank & Trust’s holdings, making the stock its 9th biggest position. Montecito Bank & Trust’s holdings in Invesco QQQ Trust were worth $9,032,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Walled Lake Planning & Wealth Management LLC raised its position in shares of Invesco QQQ Trust by 414.3% during the second quarter. Walled Lake Planning & Wealth Management LLC now owns 108 shares of the exchange traded fund’s stock valued at $27,000 after buying an additional 87 shares during the last quarter. First National Bank of South Miami boosted its holdings in shares of Invesco QQQ Trust by 300.0% during the 2nd quarter. First National Bank of South Miami now owns 120 shares of the exchange traded fund’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Lipe & Dalton purchased a new position in Invesco QQQ Trust during the 2nd quarter valued at approximately $50,000. Heritage Wealth Advisors raised its holdings in shares of Invesco QQQ Trust by 64.1% during the 2nd quarter. Heritage Wealth Advisors now owns 343 shares of the exchange traded fund’s stock worth $74,000 after acquiring an additional 134 shares in the last quarter. Finally, Lenox Wealth Advisors LLC boosted its position in shares of Invesco QQQ Trust by 96.2% during the 2nd quarter. Lenox Wealth Advisors LLC now owns 306 shares of the exchange traded fund’s stock valued at $76,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 42.99% of the company’s stock.

Separately, ValuEngine downgraded shares of Invesco QQQ Trust from a “hold” rating to a “sell” rating in a report on Thursday, July 2nd.

Shares of NASDAQ QQQ traded down $7.39 during trading hours on Friday, hitting $269.00. 3,215,336 shares of the company traded hands, compared to its average volume of 49,642,508. The company’s 50 day moving average price is $278.36 and its 200 day moving average price is $255.29. Invesco QQQ Trust has a 12 month low of $164.93 and a 12 month high of $303.50.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 22nd will be given a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Monday, September 21st.

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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