Cornerstone Financial Group LLC NE lowered its position in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) by 59.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 685 shares of the exchange traded fund’s stock after selling 1,015 shares during the period. Cornerstone Financial Group LLC NE’s holdings in Invesco QQQ were worth $421,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in QQQ. Brighton Jones LLC increased its position in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after acquiring an additional 4,989 shares during the period. Revolve Wealth Partners LLC increased its position in Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after acquiring an additional 176 shares during the period. Jupiter Wealth Management LLC acquired a new position in Invesco QQQ in the 2nd quarter valued at about $290,000. Wealth Group Ltd. increased its position in Invesco QQQ by 283.7% in the 2nd quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund’s stock valued at $13,587,000 after acquiring an additional 18,210 shares during the period. Finally, Invesco Ltd. increased its position in Invesco QQQ by 1,057.3% in the 2nd quarter. Invesco Ltd. now owns 33,063 shares of the exchange traded fund’s stock valued at $18,239,000 after acquiring an additional 30,206 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.
Invesco QQQ News Roundup
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: QQQ is benefiting from a rebound in chip and large-cap tech stocks, which has helped lift the Nasdaq-100 and supported the ETF after last week’s weakness. Invesco QQQ Trust ETF (QQQ) Rebounds from Last Week’s Slump; What’s Fueling the Rise?
- Positive Sentiment: Investors are still treating big tech as a relative safe haven, which can help sustain demand for the Nasdaq-100 and QQQ if risk-off themes persist. How Big Tech Became The Market’s New Safe Haven
- Neutral Sentiment: Upcoming inflation data and other macro releases could move rates and growth-stock valuations, creating a near-term catalyst but not a clear one-way signal for QQQ. Plenty of Data Ahead of CPI, SPCX
- Neutral Sentiment: News that SpaceX could join the Nasdaq-100 sooner under revised rules is stirring interest in index composition, though the impact on QQQ is still speculative. SpaceX Could Join the Nasdaq-100 Very Soon. Should You Buy the Invesco QQQ Trust Today?
- Negative Sentiment: Several reports warn that mega-IPOs, rising oil prices, and geopolitical risk could pressure the Nasdaq-100’s rally and increase volatility for QQQ. Mega IPOs Pose Leveraged Downside Risk For The Nasdaq 100
- Negative Sentiment: Broader market caution remains after Friday’s tech pullback and renewed Middle East tensions, which could keep pressure on growth and AI-heavy names inside QQQ. The Nasdaq is Rebounding on Monday. But Rising Oil Prices Still Threaten the AI Trade.
Invesco QQQ Stock Performance
Invesco QQQ Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were given a $0.7328 dividend. This represents a $2.93 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, March 23rd.
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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