WealthTrust Asset Management LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) by 15.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,970 shares of the exchange traded fund’s stock after purchasing an additional 950 shares during the quarter. Invesco QQQ makes up 2.8% of WealthTrust Asset Management LLC’s portfolio, making the stock its 6th biggest holding. WealthTrust Asset Management LLC’s holdings in Invesco QQQ were worth $5,133,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in Invesco QQQ in the 4th quarter worth approximately $25,000. High Point Wealth Management LLC raised its position in shares of Invesco QQQ by 68.0% during the second quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund’s stock valued at $31,000 after buying an additional 17 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Invesco QQQ by 2,150.0% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock valued at $28,000 after buying an additional 43 shares during the last quarter. Shcp LLC purchased a new position in shares of Invesco QQQ in the third quarter worth $27,000. Finally, Rachor Investment Advisory Services LLC purchased a new position in shares of Invesco QQQ in the fourth quarter worth $29,000. 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 Performance
Invesco QQQ Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were issued a $0.8135 dividend. The ex-dividend date was Monday, June 22nd. This represents a $3.25 dividend on an annualized basis and a yield of 0.5%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.73.
About Invesco QQQ
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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