PNC Financial Services Group Inc. increased its position in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,042,286 shares of the exchange traded fund’s stock after acquiring an additional 42,721 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Invesco QQQ Trust were worth $193,648,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Rainey & Randall Investment Management Inc. bought a new stake in shares of Invesco QQQ Trust in the third quarter worth about $790,000. Bank of New York Mellon Corp increased its holdings in shares of Invesco QQQ Trust by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 114,479 shares of the exchange traded fund’s stock worth $21,270,000 after acquiring an additional 1,154 shares in the last quarter. Claraphi Advisory Network LLC increased its holdings in shares of Invesco QQQ Trust by 162.8% in the third quarter. Claraphi Advisory Network LLC now owns 13,157 shares of the exchange traded fund’s stock worth $2,444,000 after acquiring an additional 8,151 shares in the last quarter. Northeast Financial Consultants Inc increased its holdings in shares of Invesco QQQ Trust by 13.0% in the third quarter. Northeast Financial Consultants Inc now owns 36,127 shares of the exchange traded fund’s stock worth $6,712,000 after acquiring an additional 4,168 shares in the last quarter. Finally, Paragon Capital Management LLC bought a new stake in shares of Invesco QQQ Trust in the third quarter worth about $216,000. 41.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Invesco QQQ Trust stock opened at $162.06 on Tuesday. Invesco QQQ Trust has a 1 year low of $150.13 and a 1 year high of $187.53.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Tuesday, September 25th were issued a $0.3298 dividend. The ex-dividend date was Monday, September 24th. This represents a $1.32 annualized dividend and a dividend yield of 0.81%.

Separately, Bank of America downgraded Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a report on Monday, November 5th.

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Invesco QQQ Trust 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.

Further Reading: Cost of Equity

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Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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