Richmond Investment Services LLC decreased its position in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) by 46.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 36,921 shares of the exchange traded fund’s stock after selling 32,347 shares during the quarter. Invesco QQQ makes up approximately 8.6% of Richmond Investment Services LLC’s portfolio, making the stock its 4th biggest position. Richmond Investment Services LLC’s holdings in Invesco QQQ were worth $27,189,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in QQQ. University of Texas Texas AM Investment Management Co. purchased a new stake in Invesco QQQ in the fourth quarter worth about $25,000. Shcp LLC purchased a new position in Invesco QQQ during the 3rd quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC increased its position in Invesco QQQ by 2,150.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock valued at $28,000 after purchasing an additional 43 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Invesco QQQ in the 1st quarter valued at about $28,000. Finally, Rachor Investment Advisory Services LLC bought a new stake in shares of Invesco QQQ in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.
Invesco QQQ News Summary
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: U.S. equities and exchange-traded funds advanced after midday, providing a favorable backdrop for QQQ’s Nasdaq-100 holdings. Exchange-Traded Funds Rise as US Equities Advance After Midday
- Positive Sentiment: An analysis describing a relatively inexpensive way to own artificial-intelligence exposure may reinforce demand for established technology companies represented heavily in QQQ. The Boring Way To Own AI Is Now The Cheap Way
- Positive Sentiment: Technical market commentary identified key support and resistance levels for QQQ and major holdings including Apple, Microsoft, Nvidia, Alphabet, Meta and Tesla, potentially encouraging dip-buying if support holds. How To Trade SPY, QQQ And 6 Mega Caps
- Neutral Sentiment: Market coverage said stocks were attempting to rebound while yields moved higher, leaving QQQ caught between improving risk appetite and pressure from higher borrowing costs. Markets Try To Bounce Back As Yields Head Higher
- Neutral Sentiment: Debate over Treasury policy, inflation, monetary support and U.S. market leadership is adding uncertainty to the interest-rate outlook, an important driver of growth-stock valuations. War, Inflation, And The Battle For Market Leadership
- Negative Sentiment: Credit-market risks may be underappreciated by AI-focused stocks, raising concerns about concentrated valuations and potential volatility among QQQ’s technology holdings. AI Stocks May Be Ignoring A Growing Risk Seen In Credit Markets
- Negative Sentiment: A hawkish interpretation of Federal Reserve minutes and the recent bond selloff could keep interest rates elevated, which generally weighs on high-growth technology stocks. Fed Minutes Lean Hawkish, But We Don’t Expect A Hike
Invesco QQQ Stock Up 0.4%
Invesco QQQ Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 22nd were given a dividend of $0.8135 per share. 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 yield of 0.5%.
Invesco QQQ 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.
Featured Stories
- Five stocks we like better than Invesco QQQ
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
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:QQQ – Free Report).
Receive News & Ratings for Invesco QQQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco QQQ and related companies with MarketBeat.com's FREE daily email newsletter.
