Invesco QQQ (NASDAQ:QQQ) Stake Lessened by First United Bank & Trust

First United Bank & Trust decreased its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.5% in the first quarter, according to its most recent Form 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 quarter. Invesco QQQ comprises about 5.9% of First United Bank & Trust's investment portfolio, making the stock its biggest holding. First United Bank & Trust's holdings in Invesco QQQ were worth $15,865,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC lifted its position in Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after acquiring an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after purchasing an additional 756,990 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after purchasing an additional 27,115 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Invesco QQQ by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after buying an additional 52,235 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after buying an additional 568,120 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Down 1.4%

NASDAQ:QQQ traded down $7.43 during mid-day trading on Friday, reaching $526.23. The company's stock had a trading volume of 45,523,323 shares, compared to its average volume of 38,291,078. The stock has a market cap of $329.76 billion, a P/E ratio of 32.66 and a beta of 1.11. The firm's fifty day moving average price is $490.36 and its two-hundred day moving average price is $502.64. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

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.