Wesbanco Bank Inc. Has $13.25 Million Stock Position in Invesco QQQ $QQQ

Key Points

• Wesbanco Bank Inc. increased its stake in Invesco QQQ by 15.6% in the second quarter, now holding 24,016 shares valued at approximately $13.25 million.
• Institutional investors and hedge funds own 44.58% of Invesco QQQ, reflecting significant interest in the exchange-traded fund.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, resulting in an annualized dividend yield of 0.4%.

Wesbanco Bank Inc. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 15.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,016 shares of the exchange traded fund's stock after purchasing an additional 3,235 shares during the quarter. Wesbanco Bank Inc.'s holdings in Invesco QQQ were worth $13,248,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Compass Financial Services Inc grew its holdings in shares of Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock worth $2,345,000 after purchasing an additional 19 shares in the last quarter. Willis Johnson & Associates Inc. grew its holdings in shares of Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after purchasing an additional 21 shares in the last quarter. MTM Investment Management LLC grew its holdings in shares of Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after purchasing an additional 21 shares in the last quarter. Cutler Investment Counsel LLC grew its holdings in shares of Invesco QQQ by 1.4% during the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after purchasing an additional 21 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC grew its holdings in shares of Invesco QQQ by 1.6% during the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock worth $707,000 after purchasing an additional 22 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ opened at $586.66 on Friday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $587.86. The business's fifty day moving average is $568.24 and its 200-day moving average is $520.54.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date 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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