Fulton Bank N.A. Increases Position in Invesco QQQ (NASDAQ:QQQ)

Fulton Bank N.A. raised its position in Invesco QQQ (NASDAQ:QQQ) by 34.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,992 shares of the exchange traded fund’s stock after purchasing an additional 1,014 shares during the quarter. Fulton Bank N.A.’s holdings in Invesco QQQ were worth $1,948,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ in the first quarter worth $28,000. Deane Retirement Strategies Inc. acquired a new position in shares of Invesco QQQ in the first quarter worth $29,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ in the second quarter worth $30,000. Voisard Asset Management Group Inc. acquired a new position in shares of Invesco QQQ in the fourth quarter worth $35,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ in the first quarter worth $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $482.10 on Tuesday. The company has a fifty day simple moving average of $469.56 and a two-hundred day simple moving average of $461.81. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.56%.

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.