Invesco QQQ Trust (QQQ) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in Invesco QQQ Trust (NASDAQ:QQQ) by 20.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,493 shares of the exchange traded fund’s stock after purchasing an additional 5,851 shares during the quarter. CIBC Asset Management Inc’s holdings in Invesco QQQ Trust were worth $6,408,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. HL Financial Services LLC bought a new position in shares of Invesco QQQ Trust in the 3rd quarter valued at $9,101,000. Financial Partners Group Inc lifted its stake in shares of Invesco QQQ Trust by 9.7% in the 3rd quarter. Financial Partners Group Inc now owns 27,571 shares of the exchange traded fund’s stock valued at $5,122,000 after acquiring an additional 2,444 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Invesco QQQ Trust by 21.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 779,881 shares of the exchange traded fund’s stock valued at $144,894,000 after acquiring an additional 135,210 shares during the last quarter. Usca Ria LLC lifted its stake in shares of Invesco QQQ Trust by 17.5% in the 3rd quarter. Usca Ria LLC now owns 31,729 shares of the exchange traded fund’s stock valued at $5,895,000 after acquiring an additional 4,725 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in shares of Invesco QQQ Trust by 6.1% in the 3rd quarter. Advisory Services Network LLC now owns 71,005 shares of the exchange traded fund’s stock valued at $13,192,000 after acquiring an additional 4,084 shares during the last quarter. 39.07% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Bank of America cut Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a research note on Monday.

Shares of QQQ opened at $170.24 on Wednesday. Invesco QQQ Trust has a 52 week low of $150.13 and a 52 week high of $187.53.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Tuesday, September 25th were paid a $0.3298 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Monday, September 24th.

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Invesco QQQ Trust 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.

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Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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