FineMark National Bank & Trust Buys 5,600 Shares of Invesco QQQ (NASDAQ:QQQ)

FineMark National Bank & Trust boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 17.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,022 shares of the exchange traded fund's stock after purchasing an additional 5,600 shares during the quarter. FineMark National Bank & Trust's holdings in Invesco QQQ were worth $19,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC grew its position in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after acquiring an additional 11,478,188 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Invesco QQQ by 13.0% in the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund's stock valued at $2,080,052,000 after purchasing an additional 488,815 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of 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. raised its position in 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 during the period. Finally, Commonwealth Equity Services LLC lifted its stake in Invesco QQQ by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock worth $1,239,886,000 after purchasing an additional 52,235 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

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Invesco QQQ Price Performance

NASDAQ QQQ traded down $9.95 during trading on Friday, hitting $471.67. 15,713,338 shares of the company's stock traded hands, compared to its average volume of 34,793,528. The firm has a market cap of $297.27 billion, a P/E ratio of 30.74 and a beta of 1.11. The stock has a fifty day moving average of $509.49 and a two-hundred day moving average of $504.67. Invesco QQQ has a 12-month low of $413.07 and a 12-month high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be issued a $0.7157 dividend. The ex-dividend date of this dividend is Monday, March 24th.

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.