First Hawaiian Bank Cuts Stock Holdings in Invesco QQQ $QQQ

First Hawaiian Bank trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 78.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 689 shares of the exchange traded fund's stock after selling 2,482 shares during the period. First Hawaiian Bank's holdings in Invesco QQQ were worth $323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Willis Johnson & Associates Inc. raised its stake in Invesco QQQ by 2.6% during the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after purchasing an additional 21 shares during the period. MTM Investment Management LLC increased its position in shares of Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after acquiring an additional 21 shares during the last quarter. Cutler Investment Counsel LLC increased its position in shares of Invesco QQQ by 1.4% during the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after acquiring an additional 21 shares during the last quarter. Mosaic Family Wealth Partners LLC grew its holdings in shares of Invesco QQQ by 1.6% in the fourth 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. Finally, Riverbend Wealth Management LLC grew its holdings in shares of Invesco QQQ by 0.3% in the first quarter. Riverbend Wealth Management LLC now owns 8,172 shares of the exchange traded fund's stock valued at $3,832,000 after purchasing an additional 22 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $591.68 on Tuesday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $591.79. The company has a 50 day moving average price of $569.03 and a 200 day moving average price of $521.27.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%.

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.

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