Bank of Hawaii Decreases Position in Invesco QQQ $QQQ

Key Points

• Bank of Hawaii has reduced its holdings in Invesco QQQ by 4.8%, now owning 14,543 shares valued at approximately $6.82 million.
• Several other hedge funds increased their positions in Invesco QQQ, with significant boosts from Comerica Bank and Full Sail Capital LLC.
• Invesco QQQ shares have recently increased 1.5% and the stock displayed a 52-week high of $583.32.

Bank of Hawaii lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,543 shares of the exchange traded fund's stock after selling 730 shares during the quarter. Bank of Hawaii's holdings in Invesco QQQ were worth $6,820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of QQQ. Evergreen Wealth Solutions LLC acquired a new position in Invesco QQQ during the 1st quarter worth $390,000. Connective Capital Management LLC purchased a new position in shares of Invesco QQQ in the 1st quarter valued at about $27,135,000. Full Sail Capital LLC boosted its stake in shares of Invesco QQQ by 287.2% in the 1st quarter. Full Sail Capital LLC now owns 5,622 shares of the exchange traded fund's stock valued at $2,636,000 after buying an additional 4,170 shares during the period. Comerica Bank grew its position in shares of Invesco QQQ by 44.9% during the first quarter. Comerica Bank now owns 152,229 shares of the exchange traded fund's stock worth $71,384,000 after buying an additional 47,144 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in shares of Invesco QQQ by 2.7% during the first quarter. Synovus Financial Corp now owns 44,481 shares of the exchange traded fund's stock worth $20,861,000 after buying an additional 1,190 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 1.5%

Shares of NASDAQ:QQQ opened at $571.97 on Monday. The firm's 50 day moving average price is $557.92 and its 200 day moving average price is $515.64. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.32.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were given a $0.5911 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis 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.

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