Fifth Third Bancorp Buys 125,904 Shares of Invesco QQQ $QQQ

Key Points

• Fifth Third Bancorp sharply increased its Invesco QQQ position in Q1, buying 125,904 additional shares and lifting its stake by 530.7% to 149,629 shares worth about $86.4 million.
• Other institutional investors also made smaller moves in QQQ, and institutions now own 44.58% of the ETF.
• QQQ shares rose to $725.51 on Friday, and the ETF recently raised its quarterly dividend to $0.8135 per share from $0.73, signaling a modest increase in income payout.

Fifth Third Bancorp increased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 530.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 149,629 shares of the exchange traded fund's stock after purchasing an additional 125,904 shares during the period. Fifth Third Bancorp's holdings in Invesco QQQ were worth $86,363,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new position in Invesco QQQ during the fourth quarter worth $25,000. Shcp LLC acquired a new stake in Invesco QQQ in the 3rd quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in Invesco QQQ by 2,150.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund's stock worth $28,000 after buying an additional 43 shares in the last quarter. Rachor Investment Advisory Services LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth about $29,000. Finally, Islay Capital Management LLC bought a new position in shares of Invesco QQQ in the 4th quarter valued at about $32,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded up $2.23 during midday trading on Friday, reaching $725.51. The company had a trading volume of 26,367,856 shares, compared to its average volume of 40,630,508. Invesco QQQ has a 1-year low of $551.56 and a 1-year high of $748.65. The business's 50 day moving average price is $718.41 and its 200 day moving average price is $650.06.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were given a dividend of $0.8135 per share. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $3.25 annualized dividend and a dividend yield of 0.4%.

Invesco QQQ News Summary

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: Several pieces pointed to QQQ as a favored way to buy the recent tech pullback, including coverage describing it as a top ETF to load up on during the sell-off and highlighting continued investor demand for Nasdaq-100 exposure. Article Title
• Positive Sentiment: Market chatter around strong Nasdaq-100 trading activity and bullish positioning suggests some investors are still betting on a rebound in large-cap growth and AI-related stocks, which can support QQQ. Article Title
• Neutral Sentiment: BlackRock launched a competing Nasdaq-100 ETF, IQQ, which may increase competition in the category, but it also reinforces continued interest in Nasdaq-100 index products overall. Article Title
• Neutral Sentiment: Other articles focused on macro themes such as inflation, Fed policy, geopolitical tensions, and labor data; these can move QQQ through risk appetite, but they do not directly change the ETF’s fundamentals. Article Title
• Negative Sentiment: Several commentary pieces warned that higher inflation, a hawkish Fed, and geopolitical stress could pressure growth stocks and reduce appetite for Nasdaq-heavy exposure, which is a headwind for QQQ. Article Title

About Invesco QQQ

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.