Wealth Care LLC acquired a new position in Invesco QQQ (NASDAQ:QQQ – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,846 shares of the exchange traded fund’s stock, valued at approximately $1,066,000. Invesco QQQ comprises approximately 0.9% of Wealth Care LLC’s portfolio, making the stock its 21st biggest holding.
Other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its position in Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after purchasing an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after purchasing an additional 176 shares in the last quarter. Jupiter Wealth Management LLC bought a new position in Invesco QQQ during the second quarter valued at $290,000. Wealth Group Ltd. lifted its position in Invesco QQQ by 283.7% during the second quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund’s stock valued at $13,587,000 after purchasing an additional 18,210 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Invesco QQQ by 1,057.3% in the 2nd quarter. Invesco Ltd. now owns 33,063 shares of the exchange traded fund’s stock worth $18,239,000 after buying an additional 30,206 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.
Invesco QQQ Stock Performance
Invesco QQQ stock opened at $736.40 on Wednesday. The company’s 50-day moving average price is $708.42 and its 200-day moving average price is $644.38. Invesco QQQ has a twelve month low of $544.66 and a twelve month high of $748.65.
Invesco QQQ Increases Dividend
Key Stories Impacting Invesco QQQ
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: The Nasdaq and broader U.S. equity markets moved higher into month-end, helping support QQQ as investors rotated back into large-cap technology and growth names. Stock Market Today: Nasdaq Shows Its Might; This Tech Player Hits A New High (Live Coverage)
- Positive Sentiment: Several pieces pointed to continued strength in Nasdaq-100 ETFs, arguing the index still has room to climb and that seasonality, improving breadth, and technical momentum could keep inflows coming. 3 Reasons Investors Should Buy in July
- Positive Sentiment: SpaceX’s planned July 7 entry into the Nasdaq-100 could trigger estimated passive inflows into index funds that track the benchmark, including QQQ, creating a near-term demand tailwind. SpaceX Achieves Escape Velocity With Nasdaq Fast-Track
- Neutral Sentiment: Some commentary warned that the tech rally may be stretched, citing concentration risk in mega-cap names and prior weakness in the Nasdaq 100, which could temper enthusiasm for QQQ. Nasdaq 100 Flashes Warning Signs After 5-Day Slide: Is The Tech Rally Running Out Of Steam?
- Neutral Sentiment: Articles debating whether investors should hedge or diversify beyond mega-caps highlight concern about QQQ’s heavy tech concentration, but they do not signal an immediate fundamental problem for the fund. It’s Time To Hedge
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.
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