Webster Bank N. A. Acquires 3,688 Shares of Invesco QQQ (NASDAQ:QQQ)

Webster Bank N. A. lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 29.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,422 shares of the exchange traded fund's stock after acquiring an additional 3,688 shares during the period. Invesco QQQ makes up approximately 0.8% of Webster Bank N. A.'s investment portfolio, making the stock its 29th largest position. Webster Bank N. A.'s holdings in Invesco QQQ were worth $7,701,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. First Citizens Financial Corp raised its holdings in Invesco QQQ by 3.5% in the 1st quarter. First Citizens Financial Corp now owns 4,416 shares of the exchange traded fund's stock valued at $2,071,000 after acquiring an additional 150 shares in the last quarter. Marcum Wealth LLC grew its holdings in shares of Invesco QQQ by 0.5% during the 1st quarter. Marcum Wealth LLC now owns 19,661 shares of the exchange traded fund's stock worth $9,219,000 after purchasing an additional 95 shares in the last quarter. Hobart Private Capital LLC increased its position in shares of Invesco QQQ by 18.6% in the first quarter. Hobart Private Capital LLC now owns 1,315 shares of the exchange traded fund's stock worth $617,000 after purchasing an additional 206 shares during the period. Trust Co of the South increased its position in shares of Invesco QQQ by 30.2% in the first quarter. Trust Co of the South now owns 909 shares of the exchange traded fund's stock worth $426,000 after purchasing an additional 211 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Invesco QQQ by 3.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,252 shares of the exchange traded fund's stock valued at $587,000 after purchasing an additional 36 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

QQQ traded up $1.74 on Monday, hitting $520.85. 23,702,362 shares of the stock were exchanged, compared to its average volume of 37,621,635. The firm has a market capitalization of $326.39 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The business has a 50-day moving average of $478.06 and a two-hundred day moving average of $500.97.

Invesco QQQ Cuts Dividend

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

About Invesco QQQ

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.