Cadence Bank boosted its holdings in Invesco QQQ Trust (NASDAQ:QQQ – Get Rating) by 61.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,392 shares of the exchange traded fund's stock after purchasing an additional 1,293 shares during the quarter. Cadence Bank's holdings in Invesco QQQ Trust were worth $950,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in QQQ. PNC Financial Services Group Inc. increased its stake in Invesco QQQ Trust by 1.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,500,725 shares of the exchange traded fund's stock worth $2,719,312,000 after acquiring an additional 74,380 shares during the period. JPMorgan Chase & Co. increased its position in shares of Invesco QQQ Trust by 150.3% in the first quarter. JPMorgan Chase & Co. now owns 5,240,784 shares of the exchange traded fund's stock worth $1,899,993,000 after purchasing an additional 3,146,789 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Invesco QQQ Trust by 9.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,113,000 shares of the exchange traded fund's stock valued at $1,152,792,000 after purchasing an additional 372,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Invesco QQQ Trust by 2.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,906,469 shares of the exchange traded fund's stock worth $814,624,000 after purchasing an additional 78,756 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in Invesco QQQ Trust by 1.1% during the second quarter. Commonwealth Equity Services LLC now owns 1,906,060 shares of the exchange traded fund's stock worth $534,230,000 after buying an additional 21,367 shares in the last quarter. Institutional investors and hedge funds own 41.46% of the company's stock.
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Invesco QQQ Trust Price Performance
QQQ stock traded down $1.90 during mid-day trading on Friday, hitting $286.92. The stock had a trading volume of 15,498,797 shares, compared to its average volume of 57,069,772. The firm has a fifty day simple moving average of $276.45 and a 200 day simple moving average of $292.03. Invesco QQQ Trust has a 52 week low of $254.26 and a 52 week high of $404.58.
Invesco QQQ Trust Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Tuesday, September 20th were paid a $0.519 dividend. The ex-dividend date of this dividend was Monday, September 19th. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%.
Invesco QQQ Trust Company Profile
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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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