PNC Reconfigures ETF Portfolio in Q1 13F, Cuts VOE, VEA, Raises CQQQ
In the first quarter, PNC Financial Services Group reduced its positions across several exchange-traded funds, including trimming Vanguard Mid-Cap Value ETF (VOE) by 0.5% to about 1.46 million shares, valued around $269 million. It also lowered its stake in Vanguard FTSE Developed Markets ETF (VEA) by 4.9% to roughly 8.08 million shares, worth about $518 million. At the same time, PNC expanded its holdings in Invesco China Technology ETF (CQQQ) by 23% to 10,218,668 shares, with a market value near $470 million. The firm decreased its position in iShares S&P 500 Growth ETF (IVW) by 0.7% to 5.39 million shares, approximately $610 million in value. Conversely, PNC increased its stake in Vanguard Mid-Cap ETF (VO) by 2.4% to 2,358,867 shares, worth about $677 million. These moves indicate a broad reallocation across domestic and international exposures, with notable shifts in VEAs and VOEs as well as a strong uptick in CQQQ.
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