Iowa State Bank Sells 631 Shares of Invesco QQQ (NASDAQ:QQQ)

Iowa State Bank trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 39.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 989 shares of the exchange traded fund's stock after selling 631 shares during the quarter. Iowa State Bank's holdings in Invesco QQQ were worth $464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC increased its holdings in Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. grew its stake in 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 valued at $2,300,993,000 after acquiring an additional 756,990 shares during the period. Strategic Financial Concepts LLC grew its stake in Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock valued at $2,103,184,000 after acquiring an additional 4,105,389 shares during the period. PNC Financial Services Group Inc. grew its stake in Invesco QQQ by 0.9% in 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 acquiring an additional 27,115 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in Invesco QQQ by 2.2% in 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 acquiring an additional 52,235 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock traded up $4.10 during mid-day trading on Monday, reaching $523.21. The stock had a trading volume of 44,563,388 shares, compared to its average volume of 37,701,776. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The stock's 50-day simple moving average is $478.06 and its 200-day simple moving average is $500.97. The firm has a market capitalization of $327.87 billion, a PE ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were paid a $0.7157 dividend. The ex-dividend date 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.