Comerica Bank Sells 34,985 Shares of Invesco QQQ (NASDAQ:QQQ)

Comerica Bank cut its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 25.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,085 shares of the exchange traded fund's stock after selling 34,985 shares during the quarter. Comerica Bank's holdings in Invesco QQQ were worth $53,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Proficio Capital Partners LLC raised 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 buying an additional 11,478,188 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in Invesco QQQ by 47,853.9% during the 4th 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 purchasing an additional 4,105,389 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Invesco QQQ by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after purchasing an additional 27,115 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings 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 purchasing an additional 52,235 shares in 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. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 1.5 %

QQQ stock traded up $7.15 on Friday, hitting $488.83. The company had a trading volume of 39,139,209 shares, compared to its average volume of 36,440,235. The stock has a market cap of $306.33 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11. The stock's 50-day simple moving average is $470.05 and its 200 day simple moving average is $499.54. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81.

Invesco QQQ Cuts Dividend

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