Sanibel Captiva Trust Company Inc. Buys 657 Shares of Invesco QQQ (NASDAQ:QQQ)

Sanibel Captiva Trust Company Inc. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 15.4% in the second quarter, HoldingsChannel.com reports. The fund owned 4,930 shares of the exchange traded fund’s stock after acquiring an additional 657 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Invesco QQQ were worth $2,362,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in QQQ. International Assets Investment Management LLC raised its position in Invesco QQQ by 40,957.3% in the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after purchasing an additional 28,263,426 shares during the period. Global Assets Advisory LLC purchased a new position in Invesco QQQ in the 1st quarter worth $1,580,776,000. Steel Grove Capital Advisors LLC raised its position in Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Granite Bay Wealth Management LLC increased its position in shares of Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after acquiring an additional 894,532 shares during the period. Finally, Harvard Management Co. Inc. purchased a new position in shares of Invesco QQQ in the first quarter valued at about $304,591,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock traded down $1.01 during mid-day trading on Tuesday, reaching $480.26. The stock had a trading volume of 28,394,066 shares, compared to its average volume of 40,844,945. The stock’s 50-day moving average price is $474.69 and its two-hundred day moving average price is $452.36. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were given a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.63%.

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.