M&T Bank Corp Trims Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

M&T Bank Corp reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,174 shares of the exchange traded fund’s stock after selling 8,398 shares during the quarter. M&T Bank Corp’s holdings in Invesco QQQ were worth $54,947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Merit Financial Group LLC boosted its position in shares of Invesco QQQ by 26.0% in the fourth quarter. Merit Financial Group LLC now owns 78,911 shares of the exchange traded fund’s stock valued at $32,316,000 after acquiring an additional 16,284 shares during the period. Bordeaux Wealth Advisors LLC increased its holdings in shares of Invesco QQQ by 9.1% in the fourth quarter. Bordeaux Wealth Advisors LLC now owns 6,843 shares of the exchange traded fund’s stock worth $2,803,000 after purchasing an additional 569 shares during the period. Bare Financial Services Inc purchased a new stake in shares of Invesco QQQ in the fourth quarter worth $146,000. Loudon Investment Management LLC boosted its stake in Invesco QQQ by 4.5% during the fourth quarter. Loudon Investment Management LLC now owns 679 shares of the exchange traded fund’s stock valued at $278,000 after buying an additional 29 shares during the period. Finally, Montis Financial LLC grew its position in Invesco QQQ by 36.5% during the fourth quarter. Montis Financial LLC now owns 1,530 shares of the exchange traded fund’s stock worth $627,000 after buying an additional 409 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $8.58 on Friday, hitting $435.48. The company’s stock had a trading volume of 48,515,252 shares, compared to its average volume of 48,759,256. The company has a 50-day simple moving average of $436.53 and a 200 day simple moving average of $412.18. Invesco QQQ has a 1 year low of $315.11 and a 1 year high of $449.34.

Invesco QQQ Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th were paid a $0.5735 dividend. This represents a $2.29 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, March 18th.

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.