Cutler Investment Counsel LLC Sells 49 Shares of Invesco QQQ (NASDAQ:QQQ)

Cutler Investment Counsel LLC trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 3.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,550 shares of the exchange traded fund’s stock after selling 49 shares during the quarter. Cutler Investment Counsel LLC’s holdings in Invesco QQQ were worth $757,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ during the first quarter worth $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ during the 2nd quarter valued at about $30,000. Chelsea Counsel Co. purchased a new position in shares of Invesco QQQ during the first quarter valued at about $40,000. CGC Financial Services LLC increased its holdings in shares of Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares during the last quarter. Finally, PFG Private Wealth Management LLC increased its holdings in shares of Invesco QQQ by 572.2% in the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 103 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock traded down $12.12 during midday trading on Friday, reaching $496.57. 51,461,054 shares of the stock traded hands, compared to its average volume of 38,252,949. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58. The stock’s fifty day moving average is $489.33 and its 200-day moving average is $474.11.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date was Monday, September 23rd.

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.