Chokshi & Queen Wealth Advisors Inc raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,065 shares of the exchange traded fund’s stock after purchasing an additional 2,699 shares during the period. Invesco QQQ comprises about 22.2% of Chokshi & Queen Wealth Advisors Inc’s portfolio, making the stock its 2nd largest holding. Chokshi & Queen Wealth Advisors Inc’s holdings in Invesco QQQ were worth $47,914,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Flatrock Wealth Partners LLC acquired a new position in shares of Invesco QQQ during the first quarter valued at $924,000. Hegarty Advisors LLC acquired a new stake in shares of Invesco QQQ in the 1st quarter worth about $2,212,000. Ascension Capital Advisors Inc. increased its holdings in shares of Invesco QQQ by 643.8% in the 1st quarter. Ascension Capital Advisors Inc. now owns 3,094 shares of the exchange traded fund’s stock worth $1,786,000 after acquiring an additional 2,678 shares during the period. First Bancorp Inc ME bought a new stake in Invesco QQQ in the 2nd quarter valued at about $677,000. Finally, Asset Allocation Strategies LLC bought a new stake in Invesco QQQ in the 1st quarter valued at about $18,142,000. 44.58% of the stock is owned by institutional investors and hedge funds.
More Invesco QQQ News
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: QQQ benefited from relative strength in the Nasdaq-100, while investor sentiment toward QQQ turned bullish ahead of the latest labor-market data. QQQ ETF edges higher as Nasdaq-100 outperforms
- Positive Sentiment: The August jobs report reportedly exceeded expectations, easing immediate concerns about a weakening labor market and supporting the “soft landing” or “Goldilocks” case for equities. That backdrop can help growth-focused technology stocks held by QQQ. Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Friday After August Jobs Report Tops Estimates
- Positive Sentiment: Analysts highlighted broad second-quarter earnings strength and a possible new capital-formation cycle, both of which could support continued demand for large-cap technology and artificial-intelligence companies represented in the Nasdaq-100. Second Quarter Earnings Show Breadth
- Neutral Sentiment: Trading was mixed across major ETFs, with some broad-market funds advancing and others declining. This suggests QQQ’s gains were driven more by Nasdaq-100 leadership than by a uniformly strong market. Exchange-Traded Funds Mixed, US Equities Lower After Midday
- Negative Sentiment: Investors are also weighing the possibility that resilient hiring and a separate report describing hot August inflation could delay rate cuts or even prompt a Federal Reserve hike. Higher interest rates generally pressure the long-duration growth stocks that dominate QQQ. Why The Fed Might Hike Rates After A Red-Hot August Inflation Report
- Negative Sentiment: Concerns that rising long-term Treasury yields could reflect inflation, fiscal pressure, or other structural risks create an additional valuation headwind for QQQ. Benign Or Malign? Reasons For The Rise In Long-Term U.S. Interest Rates
- Negative Sentiment: Profit-margin concerns surrounding the artificial-intelligence boom could weigh on several major QQQ holdings if heavy infrastructure spending fails to generate sufficient returns. The AI Boom Is Eating Its Own Margins
Invesco QQQ Price Performance
Invesco QQQ Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.8135 per share. This represents a $3.25 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, June 22nd.
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.
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