PNC Financial Services Group Inc. Lowers Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

PNC Financial Services Group Inc. trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 11.5% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,859,371 shares of the exchange traded fund’s stock after selling 632,129 shares during the quarter. Invesco QQQ comprises approximately 1.5% of PNC Financial Services Group Inc.’s portfolio, making the stock its 6th biggest position. PNC Financial Services Group Inc. owned about 0.88% of Invesco QQQ worth $1,795,149,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barrett & Company Inc. bought a new stake in shares of Invesco QQQ during the 1st quarter valued at about $26,000. Cascade Investment Advisors Inc. purchased a new position in shares of Invesco QQQ in the first quarter worth approximately $28,000. Avalon Trust Co bought a new stake in Invesco QQQ during the second quarter valued at approximately $28,000. Aspire Private Capital LLC increased its holdings in Invesco QQQ by 88.1% during the second quarter. Aspire Private Capital LLC now owns 79 shares of the exchange traded fund’s stock valued at $29,000 after buying an additional 37 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new position in Invesco QQQ in the second quarter worth approximately $30,000. Institutional investors own 43.95% of the company’s stock.

Invesco QQQ Trading Down 0.5 %

Shares of NASDAQ:QQQ traded down $2.09 during midday trading on Tuesday, hitting $388.65. The company had a trading volume of 5,506,322 shares, compared to its average volume of 53,446,723. The company has a fifty day moving average of $365.48 and a two-hundred day moving average of $363.10. Invesco QQQ has a 12-month low of $259.73 and a 12-month high of $391.41.

Invesco QQQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Tuesday, September 19th were paid a dividend of $0.5389 per share. The ex-dividend date was Monday, September 18th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.55%.

Invesco QQQ 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.