Comerica Bank Increases Stock Holdings in Invesco QQQ $QQQ

Key Points

• Comerica Bank increased its stake in Invesco QQQ (QQQ) by 44.9% in the first quarter, acquiring an additional 47,144 shares to reach a total of 152,229 shares valued at $71.38 million.
• Several institutional investors, including Synovus Financial Corp and Oak Harvest Investment Services, have also increased their holdings in Invesco QQQ during the same period.
• Invesco QQQ's stock performance shows significant volatility, with a 12-month low of $402.39 and a high of $583.32.

Comerica Bank lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 44.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,229 shares of the exchange traded fund's stock after acquiring an additional 47,144 shares during the quarter. Comerica Bank's holdings in Invesco QQQ were worth $71,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Laird Norton Wetherby Wealth Management LLC increased its holdings in Invesco QQQ by 0.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after purchasing an additional 20 shares during the period. Willis Johnson & Associates Inc. grew its position in shares of Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after buying an additional 21 shares in the last quarter. MTM Investment Management LLC lifted its stake in Invesco QQQ by 1.6% in the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after acquiring an additional 21 shares during the period. Cutler Investment Counsel LLC increased its position in Invesco QQQ by 1.4% during the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after purchasing an additional 21 shares during the period. Finally, Mosaic Family Wealth Partners LLC raised its holdings in shares of Invesco QQQ by 1.6% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock valued at $707,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ traded up $0.88 during midday trading on Wednesday, reaching $573.49. 36,533,550 shares of the company's stock traded hands, compared to its average volume of 44,854,281. The stock's 50 day simple moving average is $559.52 and its 200-day simple moving average is $516.36. Invesco QQQ has a one year low of $402.39 and a one year high of $583.32.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

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.