First United Bank & Trust cut its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,832 shares of the exchange traded fund's stock after selling 2,743 shares during the period. Invesco QQQ accounts for 5.9% of First United Bank & Trust's investment portfolio, making the stock its largest holding. First United Bank & Trust's holdings in Invesco QQQ were worth $15,865,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Wealth Group Ltd. boosted its holdings in shares of Invesco QQQ by 6.9% in the 4th quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund's stock valued at $810,000 after buying an additional 102 shares in the last quarter. Tallon Kerry Patrick purchased a new position in shares of Invesco QQQ in the 4th quarter valued at about $4,904,000. Capital & Planning LLC increased its holdings in shares of Invesco QQQ by 5.0% in the 4th quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund's stock valued at $2,477,000 after purchasing an additional 229 shares in the last quarter. Naviter Wealth LLC increased its holdings in shares of Invesco QQQ by 8.8% in the 4th quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock valued at $675,000 after purchasing an additional 107 shares in the last quarter. Finally, Eagle Capital Management LLC increased its holdings in shares of Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after purchasing an additional 185 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.
Invesco QQQ Trading Down 1.3%
Shares of QQQ traded down $6.70 during trading hours on Friday, reaching $526.96. The company had a trading volume of 55,743,632 shares, compared to its average volume of 38,429,078. The firm has a 50 day simple moving average of $492.58 and a 200-day simple moving average of $502.75. The company has a market capitalization of $330.22 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81.
Invesco QQQ Cuts Dividend
The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.
About Invesco QQQ
(
Free Report)
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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