Fifth Third Bancorp Acquires 14,377 Shares of Invesco QQQ $QQQ

Fifth Third Bancorp lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 9.6% during the 3rd quarter, Holdings Channel reports. The firm owned 164,498 shares of the exchange traded fund’s stock after buying an additional 14,377 shares during the period. Fifth Third Bancorp’s holdings in Invesco QQQ were worth $121,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in Invesco QQQ by 1.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,038,610 shares of the exchange traded fund’s stock worth $2,237,606,000 after buying an additional 30,083 shares during the period. Analyst IMS Investment Management Services Ltd. boosted its position in Invesco QQQ by 0.3% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,787,559 shares of the exchange traded fund’s stock valued at $1,316,358,000 after buying an additional 4,751 shares during the period. HighTower Advisors LLC boosted its position in Invesco QQQ by 3.1% in the 2nd quarter. HighTower Advisors LLC now owns 1,230,679 shares of the exchange traded fund’s stock valued at $906,272,000 after buying an additional 36,923 shares during the period. Kestra Advisory Services LLC boosted its position in Invesco QQQ by 10.5% in the 3rd quarter. Kestra Advisory Services LLC now owns 880,835 shares of the exchange traded fund’s stock valued at $651,615,000 after buying an additional 83,394 shares during the period. Finally, GoalVest Advisory LLC grew its stake in shares of Invesco QQQ by 20,256.6% in the third quarter. GoalVest Advisory LLC now owns 613,955 shares of the exchange traded fund’s stock worth $454,185,000 after acquiring an additional 610,939 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Trending Headlines about Invesco QQQ

These are some of the QQQ headlines that stood out recently:

• Positive Sentiment: Chip stocks helped drive a strong Nasdaq-100 session on Nov. 10, signaling some appetite to buy technology shares despite volatility. Whether that rebound can hold remains uncertain. The Nasdaq-100 Just Had Its Best Day Since March Without Nvidia’s Help
• Neutral Sentiment: QQQ’s reported holdings grew across its portfolio, including an additional $206.7 million in Apple on Nov. 9. This describes fund holdings activity but does not, by itself, establish a change in investor demand for QQQ. Invesco QQQ Trust (QQQ) Buys $206.7 Million More Apple on Nov. 9
• Negative Sentiment: Some commentary warned that elevated technology valuations leave QQQ vulnerable to a sharp pullback. These are bearish scenarios rather than evidence of an imminent decline, but they add to concerns around volatile tech and chip shares. How the QQQ Could Drop More Than 40% From Here, Even If It Hits a New All-Time High First

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $690.38 on Thursday. Invesco QQQ has a 52 week low of $555.60 and a 52 week high of $762.86. The company has a fifty day simple moving average of $719.04 and a two-hundred day simple moving average of $681.26.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Monday, September 21st were issued a $0.7514 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 0.4%. This is a drop from Invesco QQQ’s previous quarterly dividend of $0.8135. The ex-dividend date was Monday, September 21st.

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.