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

Fifth Third Bancorp raised its stake in Invesco QQQ (NASDAQ:QQQ) by 9.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,498 shares of the exchange traded fund’s stock after buying an additional 14,377 shares during the quarter. Fifth Third Bancorp’s holdings in Invesco QQQ were worth $121,690,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Parvin Asset Management LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $28,000. High Point Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 68.0% in the 2nd quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund’s stock worth $31,000 after acquiring an additional 17 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Invesco QQQ by 83.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 55 shares of the exchange traded fund’s stock worth $41,000 after acquiring an additional 25 shares during the last quarter. CrossGen Wealth LLC boosted its position in shares of Invesco QQQ by 44.7% during the 3rd quarter. CrossGen Wealth LLC now owns 55 shares of the exchange traded fund’s stock worth $41,000 after purchasing an additional 17 shares during the period. Finally, Bullseye Investment Management LLC purchased a new position in shares of Invesco QQQ during the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 2.3%

Invesco QQQ stock opened at $690.38 on Thursday. Invesco QQQ has a fifty-two week low of $555.60 and a fifty-two week high of $762.86. The firm has a 50 day moving average price of $719.04 and a 200 day moving average price of $681.26.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Monday, September 21st were paid a dividend of $0.7514 per share. This represents a $3.01 dividend on an annualized basis and a yield of 0.4%. This is a negative change from Invesco QQQ’s previous quarterly dividend of $0.8135. The ex-dividend date was Monday, September 21st.

Key Stories Impacting Invesco QQQ

Here are a few of the latest stories about QQQ:

• Positive Sentiment: U.S. equities advanced after midday on Nov. 11, offering a supportive backdrop for QQQ following the prior session’s weakness. Exchange-Traded Funds Higher as US Equities Advance After Midday
• 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
• Negative Sentiment: October CPI rose 0.4% month over month, and reports described price pressures as broadening or sticky. That intensified speculation about a December Fed rate hike; higher rates can weigh on growth-stock valuations, a key risk for QQQ. October CPI: Broadening Price Pressures Keep Fed Tightening On Track

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.