First American Bank Sells 40 Shares of Invesco QQQ (NASDAQ:QQQ)

First American Bank lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 478 shares of the exchange traded fund’s stock after selling 40 shares during the quarter. First American Bank’s holdings in Invesco QQQ were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SOA Wealth Advisors LLC. lifted its holdings in shares of Invesco QQQ by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock valued at $8,477,000 after purchasing an additional 46 shares in the last quarter. Pettinga Financial Advisors LLC raised its holdings in shares of Invesco QQQ by 13.6% in the third quarter. Pettinga Financial Advisors LLC now owns 15,475 shares of the exchange traded fund’s stock valued at $7,553,000 after purchasing an additional 1,854 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in Invesco QQQ by 4.0% during the third quarter. JFS Wealth Advisors LLC now owns 8,419 shares of the exchange traded fund’s stock worth $4,109,000 after purchasing an additional 325 shares during the last quarter. Fiducient Advisors LLC acquired a new stake in Invesco QQQ in the 3rd quarter valued at $286,000. Finally, Cornerstone Wealth Group LLC lifted its position in Invesco QQQ by 7.6% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 4,267 shares of the exchange traded fund’s stock worth $2,083,000 after buying an additional 303 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $500.27 on Friday. The firm’s 50-day moving average is $522.25 and its 200-day moving average is $502.61. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $540.81. The stock has a market cap of $315.30 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11.

Invesco QQQ Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

About Invesco QQQ

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.