Invesco QQQ $QQQ Stake Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,062,983 shares of the exchange traded fund’s stock after selling 42,799 shares during the period. Invesco QQQ accounts for 1.1% of PNC Financial Services Group Inc.’s portfolio, making the stock its 8th biggest position. PNC Financial Services Group Inc. owned approximately 0.48% of Invesco QQQ worth $1,689,664,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Morgan Dempsey Capital Management LLC bought a new stake in Invesco QQQ during the second quarter worth about $30,000. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ in the 2nd quarter worth approximately $41,000. Blume Capital Management Inc. increased its position in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after buying an additional 2,536 shares in the last quarter. Moser Wealth Advisors LLC increased its position in Invesco QQQ by 930.0% during the 2nd quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock valued at $57,000 after buying an additional 93 shares in the last quarter. Finally, Atlantic Private Wealth LLC grew its stake in shares of Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.3%

QQQ opened at $621.57 on Wednesday. The stock has a 50-day moving average price of $603.52 and a 200-day moving average price of $562.90. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $637.01.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 22nd were issued a $0.694 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend yield of 0.4%.

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.