Wesbanco Bank Inc. Acquires 778 Shares of Invesco QQQ $QQQ

Wesbanco Bank Inc. grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 3.1% in the first quarter, HoldingsChannel.com reports. The fund owned 26,256 shares of the exchange traded fund’s stock after purchasing an additional 778 shares during the period. Wesbanco Bank Inc.’s holdings in Invesco QQQ were worth $15,154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Carrera Capital Advisors grew its position in Invesco QQQ by 99.3% during the 4th quarter. Carrera Capital Advisors now owns 2,316 shares of the exchange traded fund’s stock worth $1,423,000 after acquiring an additional 1,154 shares during the last quarter. Sovran Advisors LLC increased its stake in Invesco QQQ by 8.0% in the 4th quarter. Sovran Advisors LLC now owns 18,032 shares of the exchange traded fund’s stock worth $11,212,000 after purchasing an additional 1,340 shares during the period. Corepath Wealth Partners LLC lifted its position in Invesco QQQ by 19.7% in the fourth quarter. Corepath Wealth Partners LLC now owns 8,723 shares of the exchange traded fund’s stock valued at $5,471,000 after purchasing an additional 1,436 shares during the last quarter. Cane Capital Partners LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $715,000. Finally, Mariner LLC boosted its stake in shares of Invesco QQQ by 2.6% during the fourth quarter. Mariner LLC now owns 1,084,500 shares of the exchange traded fund’s stock valued at $666,226,000 after purchasing an additional 27,560 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ News Summary

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: Chipmaker strength helped calm some AI-related worries, with overnight futures supported by strong Micron results and broader optimism that the AI trade still has room to run.
• Neutral Sentiment: Several market commentary pieces argue that rotation is broadening beyond mega-cap tech, which could mean less concentration risk for QQQ but also a less dominant leadership role for the ETF.
• Neutral Sentiment: Invesco QQQ is also facing fresh competition, as State Street launched a rival Nasdaq-100 ETF and BlackRock is expected to enter the category, which may pressure fee and asset-growth dynamics over time. Article Title
• Negative Sentiment: Inflation readings remained sticky, including higher core PCE and core services inflation, reinforcing fears that the Fed may stay restrictive longer than hoped and weighing on growth stocks.
• Negative Sentiment: Bearish market commentary about a possible liquidity shock and an “S&P 500 bubble burst” likely added to pressure on QQQ’s tech-heavy holdings, which tend to be sensitive to tightening financial conditions.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $706.52 on Friday. Invesco QQQ has a 52-week low of $544.54 and a 52-week high of $748.65. The company’s 50 day moving average price is $704.99 and its 200-day moving average price is $642.79.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.8135 per share. This represents a $3.25 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, June 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.73.

Invesco QQQ Company 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.