Shah Wealth Advisors LLC acquired a new stake in Invesco QQQ (NASDAQ:QQQ – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,012 shares of the exchange traded fund’s stock, valued at approximately $745,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in 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 valued at $12,008,257,000 after purchasing an additional 26,505,055 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Invesco QQQ by 3,567.7% during the 4th quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock worth $13,168,912,000 after buying an additional 20,852,432 shares during the last quarter. Delta Global Management LP purchased a new stake in shares of Invesco QQQ in the 4th quarter worth about $821,084,000. Align Financial LLC acquired a new stake in Invesco QQQ in the 4th quarter valued at about $78,118,000. Finally, Bank of Montreal Can grew its stake in Invesco QQQ by 142.4% in the 4th quarter. Bank of Montreal Can now owns 1,431,050 shares of the exchange traded fund’s stock valued at $877,406,000 after acquiring an additional 840,803 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.
Trending Headlines about Invesco QQQ
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 Stock Performance
Invesco QQQ Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.8135 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $3.25 dividend on an annualized basis and a dividend yield of 0.5%.
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.
Featured Stories
- Five stocks we like better than Invesco QQQ
- Revolution Medicines Got Its Breakthrough—What Moves It Next?
- Retail Earnings Just Exposed a Bigger Divide in the U.S. Consumer Economy
- FB Financial’s Southern Expansion and Buybacks Drive Analyst Optimism
- AST SpaceMobile Stock Soared 12%—This Was the Catalyst
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).
Receive News & Ratings for Invesco QQQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco QQQ and related companies with MarketBeat.com's FREE daily email newsletter.
