Covington Capital Management Raises Stock Holdings in Invesco QQQ Trust (NASDAQ:QQQ)

Covington Capital Management boosted its stake in Invesco QQQ Trust (NASDAQ:QQQ – Get Rating) by 31.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,374 shares of the exchange traded fund’s stock after acquiring an additional 1,297 shares during the period. Covington Capital Management’s holdings in Invesco QQQ Trust were worth $1,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank increased its stake in Invesco QQQ Trust by 1,806.9% during the 3rd quarter. Toronto Dominion Bank now owns 4,430,360 shares of the exchange traded fund’s stock worth $1,183,814,000 after buying an additional 4,198,026 shares during the period. SG Americas Securities LLC grew its stake in shares of Invesco QQQ Trust by 146.1% in the third quarter. SG Americas Securities LLC now owns 376,984 shares of the exchange traded fund’s stock worth $100,753,000 after acquiring an additional 1,195,481 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Invesco QQQ Trust during the third quarter worth $230,774,000. Centiva Capital LP raised its stake in shares of Invesco QQQ Trust by 862.3% in the second quarter. Centiva Capital LP now owns 963,300 shares of the exchange traded fund’s stock valued at $269,994,000 after acquiring an additional 863,200 shares in the last quarter. Finally, QVR LLC boosted its holdings in Invesco QQQ Trust by 100.3% in the third quarter. QVR LLC now owns 2,500 shares of the exchange traded fund’s stock valued at $668,000 after purchasing an additional 751,100 shares during the period. 43.08% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trust Stock Performance

Shares of NASDAQ QQQ opened at $297.37 on Wednesday. The stock’s 50-day moving average is $291.82 and its two-hundred day moving average is $284.23. Invesco QQQ Trust has a 1-year low of $254.26 and a 1-year high of $371.83.

Invesco QQQ Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 23rd. Investors of record on Tuesday, December 20th were paid a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from Invesco QQQ Trust’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, December 19th.

About Invesco QQQ Trust

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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.