M&T Bank Corp Reduces Holdings in Invesco QQQ

M&T Bank Corp has decreased its investment in Invesco QQQ (NASDAQ:QQQ) by 3.9% during the third quarter, as reported in its latest filing with the Securities and Exchange Commission (SEC). Following this adjustment, M&T Bank Corp now owns 127,160 shares of the ETF after selling 5,224 shares in the timeframe specified. The value of M&T Bank Corp's holdings in Invesco QQQ is currently assessed at $62,063,000 according to its most recent disclosure to the SEC.

Several other institutional investors have also modified their stakes in Invesco QQQ. Notably, Lantz Financial LLC acquired a new position in the ETF in the second quarter, which is valued at approximately $214,000. Atlantic Union Bankshares Corp increased its stake by 4.9% during the same period and now holds 1,913 shares worth $917,000, after acquiring an additional 90 shares last quarter. First Merchants Corp entered into a new position valued at around $360,000, and Spirit of America Management Corp NY picked up shares worth about $158,000 as well. Additionally, SNS Financial Group LLC boosted its stake by 2.3% and now owns 5,309 shares valued at $2,548,000 after buying 118 more shares recently. Overall, institutional investors and hedge funds control approximately 44.58% of Invesco QQQ's shares.

Invesco QQQ Market Update

On the trading front, Invesco QQQ saw a slight increase of 0.9%, opening at $518.66 on Friday. The 50-day moving average for the stock stands at $507.24, with its 200-day moving average at $486.23. Over the past year, Invesco QQQ has experienced a low of $395.34 and a high of $539.15.

Overview of Invesco QQQ

The PowerShares QQQ Trust, Series 1, is a unit investment trust that provides investors with the opportunity to invest in the Nasdaq-100 Index Tracking Stock. Its objective is to mirror the performance and yield of the Nasdaq-100 Index. The Trust typically holds most of the securities in the index with similar weightings, allowing investors to benefit from the underlying assets of the Nasdaq-100.

Additional Insights

• Five stocks we like better than Invesco QQQ
• What Investors Need to Know About Upcoming IPOs
• Opal Fuels CEO on Steering the Future of Renewable Natural Gas
• What is the Nasdaq? Complete Overview with History
• MicroStrategy Joins Nasdaq-100: 2 Crypto Stocks Set to Win
• What Investors Must Know About Over-the-Counter (OTC) Stocks
• 2 Underrated Quantum Computing Companies Starting to Rally

Stay Updated - Subscribe with your email to receive daily summaries of the latest news and analysts' insights regarding Invesco QQQ and similar companies through MarketBeat's free email newsletter.

Previous News Highlights

M&T Bank Corp has also recently decreased its stock position in The Sherwin-Williams Company (NYSE:SHW).

M&T, Bank, Invesco