Merrithew & Thorsten Inc bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 28,138 shares of the exchange traded fund’s stock, valued at approximately $16,241,000. Invesco QQQ accounts for approximately 15.3% of Merrithew & Thorsten Inc’s holdings, making the stock its 3rd largest position.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $25,000. Shcp LLC acquired a new stake in Invesco QQQ in the third quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in Invesco QQQ by 2,150.0% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock worth $28,000 after purchasing an additional 43 shares during the period. Rachor Investment Advisory Services LLC bought a new position in Invesco QQQ during the 4th quarter valued at $29,000. Finally, Islay Capital Management LLC bought a new position in Invesco QQQ during the 4th quarter valued at $32,000. 44.58% of the stock is currently owned by institutional investors.
Invesco QQQ Stock Up 0.3%
Shares of QQQ stock traded up $2.23 during mid-day trading on Friday, hitting $725.51. 26,367,856 shares of the stock traded hands, compared to its average volume of 40,630,508. Invesco QQQ has a twelve month low of $551.56 and a twelve month high of $748.65. The company’s 50-day simple moving average is $718.41 and its 200-day simple moving average is $650.06.
Invesco QQQ Increases Dividend
Key Stories Impacting Invesco QQQ
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
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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