PNC Financial Services Group Inc. Lowers Stake in Invesco NASDAQ 100 ETF $QQQM

PNC Financial Services Group Inc. decreased its stake in shares of Invesco NASDAQ 100 ETF (NASDAQ:QQQM) by 3.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,348,060 shares of the company’s stock after selling 78,962 shares during the period. PNC Financial Services Group Inc.’s holdings in Invesco NASDAQ 100 ETF were worth $580,253,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vantagepoint Investment Advisers LLC purchased a new stake in shares of Invesco NASDAQ 100 ETF in the third quarter valued at approximately $538,021,000. Invesco Ltd. increased its holdings in Invesco NASDAQ 100 ETF by 18.8% during the 2nd quarter. Invesco Ltd. now owns 10,834,831 shares of the company’s stock worth $2,460,590,000 after purchasing an additional 1,715,025 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its position in Invesco NASDAQ 100 ETF by 73.1% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,860,663 shares of the company’s stock valued at $876,757,000 after purchasing an additional 1,630,000 shares in the last quarter. Soundwatch Capital LLC purchased a new stake in shares of Invesco NASDAQ 100 ETF in the 2nd quarter worth $3,159,000. Finally, Bank of Nova Scotia bought a new position in shares of Invesco NASDAQ 100 ETF during the 2nd quarter worth $277,718,000.

Invesco NASDAQ 100 ETF Trading Up 0.2%

Shares of Invesco NASDAQ 100 ETF stock opened at $247.83 on Friday. The stock’s fifty day moving average price is $254.56 and its 200-day moving average price is $248.56. The firm has a market cap of $71.09 billion, a P/E ratio of 31.95 and a beta of 1.16. Invesco NASDAQ 100 ETF has a 12 month low of $165.72 and a 12 month high of $262.23.

Invesco NASDAQ 100 ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Monday, December 22nd were issued a dividend of $0.323 per share. This is an increase from Invesco NASDAQ 100 ETF’s previous quarterly dividend of $0.30. This represents a $1.29 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, December 22nd.

About Invesco NASDAQ 100 ETF

The Invesco NASDAQ 100 ETF (QQQM) is an exchange-traded fund that is based on the NASDAQ-100 index. The fund is passively managed to track a modified-market-cap weighted narrow index of 100 NASDAQ-listed stocks, excluding financials. QQQM was launched on Oct 13, 2020 and is managed by Invesco.