Invesco QQQ (NASDAQ:QQQ) is PNC Financial Services Group Inc.'s 9th Largest Position

PNC Financial Services Group Inc. lessened its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,089,591 shares of the exchange traded fund's stock after selling 33,167 shares during the period. Invesco QQQ accounts for approximately 1.0% of PNC Financial Services Group Inc.'s investment portfolio, making the stock its 9th largest holding. PNC Financial Services Group Inc. owned about 0.51% of Invesco QQQ worth $1,507,937,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in Invesco QQQ in the first quarter worth about $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ in the second quarter worth $30,000. Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ during the first quarter worth $40,000. CGC Financial Services LLC grew its holdings in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund's stock valued at $44,000 after buying an additional 81 shares during the last quarter. Finally, Legacy Bridge LLC grew its holdings in shares of Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund's stock valued at $59,000 after buying an additional 45 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $500.02 on Tuesday. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58. The business has a fifty day moving average of $490.25 and a 200 day moving average of $475.35.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, September 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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