First United Bank & Trust Has $15.87 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

First United Bank & Trust lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,832 shares of the exchange traded fund’s stock after selling 2,743 shares during the period. Invesco QQQ makes up 5.9% of First United Bank & Trust’s portfolio, making the stock its biggest position. First United Bank & Trust’s holdings in Invesco QQQ were worth $15,865,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Proficio Capital Partners LLC increased its stake in shares of Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the last quarter. NWI Management LP lifted its position in Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after acquiring an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC boosted its stake in Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock valued at $8,777,850,000 after purchasing an additional 1,868,580 shares during the period. Senator Investment Group LP acquired a new position in Invesco QQQ in the 4th quarter valued at $679,936,000. Finally, Artemis Wealth Advisors LLC increased its position in Invesco QQQ by 1,337.4% during the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock worth $423,470,000 after buying an additional 895,277 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 0.3%

NASDAQ QQQ opened at $532.41 on Thursday. The company has a market cap of $333.63 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. The company has a 50 day moving average of $488.16 and a 200-day moving average of $502.45. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

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.