PNC Financial Services Group Inc. Has $1.46 Billion Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

PNC Financial Services Group Inc. lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,105,782 shares of the exchange traded fund's stock after selling 10,924 shares during the period. Invesco QQQ comprises about 0.8% of PNC Financial Services Group Inc.'s holdings, making the stock its 10th biggest position. PNC Financial Services Group Inc. owned about 0.50% of Invesco QQQ worth $1,456,363,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Bridge Generations Wealth Management LLC bought a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Invesco QQQ in the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ in the 1st quarter valued at approximately $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ during the 1st quarter valued at $51,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ during the fourth quarter worth $57,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 2.0%

Invesco QQQ stock opened at $553.88 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $574.63. The business has a fifty day moving average price of $544.01 and a 200-day moving average price of $510.73.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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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