Triton Wealth Management PLLC Purchases 4,023 Shares of Invesco QQQ $QQQ

Triton Wealth Management PLLC boosted its holdings in Invesco QQQ (NASDAQ:QQQFree Report) by 9.6% in the 1st quarter, Holdings Channel reports. The firm owned 45,929 shares of the exchange traded fund’s stock after purchasing an additional 4,023 shares during the period. Invesco QQQ accounts for about 10.0% of Triton Wealth Management PLLC’s investment portfolio, making the stock its 3rd biggest holding. Triton Wealth Management PLLC’s holdings in Invesco QQQ were worth $26,959,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Granite Bay Wealth Management LLC grew its position in Invesco QQQ by 2.0% during the 1st quarter. Granite Bay Wealth Management LLC now owns 4,472 shares of the exchange traded fund’s stock worth $2,581,000 after purchasing an additional 88 shares during the last quarter. Avid Wealth Partners LLC acquired a new position in Invesco QQQ in the first quarter valued at $338,000. Independence Bank of Kentucky raised its holdings in shares of Invesco QQQ by 5.1% in the first quarter. Independence Bank of Kentucky now owns 8,605 shares of the exchange traded fund’s stock valued at $4,967,000 after buying an additional 414 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its holdings in shares of Invesco QQQ by 5.3% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 18,120 shares of the exchange traded fund’s stock valued at $10,459,000 after buying an additional 909 shares during the last quarter. Finally, AlpenGlobal Capital LLC acquired a new stake in shares of Invesco QQQ during the first quarter worth about $528,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ stock traded up $2.23 during trading on Friday, hitting $725.51. The company had a trading volume of 26,367,856 shares, compared to its average volume of 40,630,508. Invesco QQQ has a 1-year low of $551.56 and a 1-year high of $748.65. The firm has a 50-day moving average price of $718.41 and a 200-day moving average price of $650.06.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were issued a $0.8135 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.73. This represents a $3.25 dividend on an annualized basis and a dividend yield of 0.4%.

Invesco QQQ News Roundup

Here are the key news stories impacting Invesco QQQ this week:

  • Positive Sentiment: Several pieces pointed to QQQ as a favored way to buy the recent tech pullback, including coverage describing it as a top ETF to load up on during the sell-off and highlighting continued investor demand for Nasdaq-100 exposure. Article Title
  • Positive Sentiment: Market chatter around strong Nasdaq-100 trading activity and bullish positioning suggests some investors are still betting on a rebound in large-cap growth and AI-related stocks, which can support QQQ. Article Title
  • Neutral Sentiment: BlackRock launched a competing Nasdaq-100 ETF, IQQ, which may increase competition in the category, but it also reinforces continued interest in Nasdaq-100 index products overall. Article Title
  • Neutral Sentiment: Other articles focused on macro themes such as inflation, Fed policy, geopolitical tensions, and labor data; these can move QQQ through risk appetite, but they do not directly change the ETF’s fundamentals. Article Title
  • Negative Sentiment: Several commentary pieces warned that higher inflation, a hawkish Fed, and geopolitical stress could pressure growth stocks and reduce appetite for Nasdaq-heavy exposure, which is a headwind for QQQ. Article Title

About Invesco QQQ

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQFree Report).

Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

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