Kovitz Investment Group Partners LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ – Free Report) by 71.1% during the fourth quarter, HoldingsChannel reports. The firm owned 17,863 shares of the exchange traded fund’s stock after selling 43,885 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Invesco QQQ were worth $10,973,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of QQQ. Bank of America Corp DE boosted its holdings in shares of Invesco QQQ by 381.0% in the fourth quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock worth $12,008,257,000 after buying an additional 26,505,055 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Invesco QQQ by 3,567.7% during the fourth quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock valued at $13,168,912,000 after acquiring an additional 20,852,432 shares during the period. Delta Global Management LP purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $821,084,000. Align Financial LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $78,118,000. Finally, SG Americas Securities LLC boosted its stake in Invesco QQQ by 120.2% in the 4th quarter. SG Americas Securities LLC now owns 213,722 shares of the exchange traded fund’s stock worth $131,292,000 after purchasing an additional 1,270,102 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.
Key Headlines Impacting Invesco QQQ
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: Broad U.S. equity ETFs were higher or stable in intraday trading, suggesting some support for risk assets and large-cap growth exposure. Exchange-Traded Funds, US Equities Higher After Midday
- Positive Sentiment: Market discussion around semiconductors and AI remains a potential tailwind for QQQ because those sectors are key index holdings. Semiconductor Stocks May Be Creating A Stock Market Misalignment
- Neutral Sentiment: ETFs saw unusual volume and investors are watching flows, but the article does not point to a clear QQQ-specific catalyst. 2 ETFs to Watch for Outsized Volume on US Treasury & Dividend
- Neutral Sentiment: Some commentary continues to debate QQQ’s valuation and whether there are cheaper ways to get tech exposure, but this is more of a long-term positioning argument than an immediate stock driver. VOO vs. QQQ — Which Strong Buy-Rated ETF Should You Choose Now?
- Negative Sentiment: Multiple Fed-related articles point to a hawkish policy shift, which could weigh on QQQ by raising discount-rate pressure on high-multiple tech stocks. Fed Chair Warsh in the Spotlight: Will He Advocate Rate Cuts?
- Negative Sentiment: Articles warning that the Fed may not provide forward guidance and could be moving toward rate hikes are a negative backdrop for growth-oriented ETFs like QQQ. New Era for the Fed: Kevin Warsh at the FOMC
Invesco QQQ Trading Up 2.5%
Invesco QQQ Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.8135 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73. This represents a $3.25 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 22nd.
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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