Berkshire Money Management Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) by 26.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 96,501 shares of the exchange traded fund’s stock after selling 35,115 shares during the quarter. Invesco QQQ accounts for about 5.7% of Berkshire Money Management Inc.’s holdings, making the stock its 6th biggest holding. Berkshire Money Management Inc.’s holdings in Invesco QQQ were worth $55,699,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Goodman Advisory Group LLC acquired a new stake in shares of Invesco QQQ in the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Invesco QQQ in the 4th quarter valued at about $25,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Invesco QQQ by 2,150.0% in 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 buying an additional 43 shares during the last quarter. Shcp LLC acquired a new position in Invesco QQQ in the 3rd quarter valued at about $27,000. Finally, Rachor Investment Advisory Services LLC purchased a new stake in shares of Invesco QQQ during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.
Trending Headlines about Invesco QQQ
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: Chipmaker strength helped calm some AI-related worries, with overnight futures supported by strong Micron results and broader optimism that the AI trade still has room to run.
- Neutral Sentiment: Several market commentary pieces argue that rotation is broadening beyond mega-cap tech, which could mean less concentration risk for QQQ but also a less dominant leadership role for the ETF.
- Neutral Sentiment: Invesco QQQ is also facing fresh competition, as State Street launched a rival Nasdaq-100 ETF and BlackRock is expected to enter the category, which may pressure fee and asset-growth dynamics over time. Article Title
- Negative Sentiment: Inflation readings remained sticky, including higher core PCE and core services inflation, reinforcing fears that the Fed may stay restrictive longer than hoped and weighing on growth stocks.
- Negative Sentiment: Bearish market commentary about a possible liquidity shock and an “S&P 500 bubble burst” likely added to pressure on QQQ’s tech-heavy holdings, which tend to be sensitive to tightening financial conditions.
Invesco QQQ Price Performance
Invesco QQQ Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 22nd will be paid a dividend of $0.8135 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.73. This represents a $3.25 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, June 22nd.
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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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).
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