Fifth Third Bancorp Grows Position in Invesco QQQ (NASDAQ:QQQ)

Fifth Third Bancorp increased its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,196 shares of the exchange traded fund’s stock after acquiring an additional 518 shares during the quarter. Fifth Third Bancorp’s holdings in Invesco QQQ were worth $10,877,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Wealth Group Ltd. increased its holdings in Invesco QQQ by 6.9% in the 4th quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund’s stock worth $810,000 after buying an additional 102 shares during the period. Tallon Kerry Patrick acquired a new position in Invesco QQQ in the 4th quarter worth approximately $4,904,000. Capital & Planning LLC increased its holdings in Invesco QQQ by 5.0% in the 4th quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund’s stock worth $2,477,000 after buying an additional 229 shares during the period. Naviter Wealth LLC increased its holdings in Invesco QQQ by 8.8% in the 4th quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund’s stock worth $675,000 after buying an additional 107 shares during the period. Finally, Eagle Capital Management LLC increased its holdings in Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund’s stock worth $31,025,000 after buying an additional 185 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $526.96 on Friday. The firm’s 50 day simple moving average is $492.58 and its 200-day simple moving average is $502.76. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The stock has a market capitalization of $330.22 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11.

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.