Iowa State Bank Reduces Its Stake in Invesco QQQ

Iowa State Bank has decreased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 42.2% during the third quarter, as reported in its latest 13F filing with the Securities and Exchange Commission (SEC). After selling 1,296 shares during the quarter, the bank now holds 1,775 shares of this exchange-traded fund, which are valued at approximately $866,000 at the end of the quarter.

Changes in Institutional Holdings

Several other institutional investors and hedge funds have also recently adjusted their investments in QQQ. New Covenant Trust Company N.A. made a new investment in Invesco QQQ worth about $28,000 during the first quarter. Deane Retirement Strategies Inc. followed suit, acquiring a new position valued at around $29,000 in the same quarter. Meanwhile, Mechanics Financial Corp entered by buying a new stake valued at approximately $30,000 in the second quarter. Voisard Asset Management Group Inc. and Chelsea Counsel Co. also acquired new stakes in Invesco QQQ worth about $35,000 and $40,000, respectively, during various periods. Altogether, 44.58% of Invesco QQQ shares are held by hedge funds and institutional investors.

Current Trading Information

The shares of QQQ opened at $493.36 recently. Over the past year, Invesco QQQ has seen a low of $342.35 and a high of $503.52. The stock is currently operating above its moving averages, with a 50-day moving average at $472.55 and a 200-day moving average at $463.13.

Dividend Announcement

Invesco QQQ has also announced a quarterly dividend payout, scheduled for Thursday, October 31st. Shareholders on record as of Monday, September 23rd, are set to receive a dividend of $0.677 per share. The ex-dividend date coincides with the record date, which is September 23rd. The annualized dividend amounts to $2.71, which yields approximately 0.55%.

Understanding Invesco QQQ

PowerShares QQQ Trust, Series 1 offers an investment that provides returns mirroring the performance of the Nasdaq-100 Index. The trust enables investors to purchase units that represent ownership in a portfolio of securities closely aligning with the components of the Nasdaq-100 Index, maintaining similar weightings.

Further Insights

• Explore five stocks that outperform Invesco QQQ.

Overall, recent adjustments from institutional investors demonstrate an evolving landscape for Invesco QQQ as more stakeholders reassess their positions in the exchange-traded fund. Stakeholders may wish to stay updated about not only QQQ but also other investment opportunities in the current market.

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