Silver Grove Financial Group Inc. raised its position in Invesco QQQ (NASDAQ:QQQ – Free Report) by 14.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,707 shares of the exchange traded fund’s stock after buying an additional 850 shares during the quarter. Invesco QQQ accounts for 2.3% of Silver Grove Financial Group Inc.’s holdings, making the stock its 8th biggest holding. Silver Grove Financial Group Inc.’s holdings in Invesco QQQ were worth $4,961,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Brooklyn FI LLC grew its position in shares of Invesco QQQ by 32.2% during the 3rd quarter. Brooklyn FI LLC now owns 1,187 shares of the exchange traded fund’s stock worth $821,000 after purchasing an additional 289 shares in the last quarter. Moneco Advisors LLC increased its holdings in shares of Invesco QQQ by 2.3% during the third quarter. Moneco Advisors LLC now owns 13,908 shares of the exchange traded fund’s stock worth $10,288,000 after purchasing an additional 307 shares during the period. Woodley Farra Manion Portfolio Management Inc. increased its holdings in shares of Invesco QQQ by 28.8% during the third quarter. Woodley Farra Manion Portfolio Management Inc. now owns 943 shares of the exchange traded fund’s stock worth $698,000 after purchasing an additional 211 shares during the period. 626 Financial LLC raised its position in shares of Invesco QQQ by 4.4% in the third quarter. 626 Financial LLC now owns 427 shares of the exchange traded fund’s stock valued at $316,000 after buying an additional 18 shares in the last quarter. Finally, Keybank National Association OH raised its position in shares of Invesco QQQ by 1.5% in the third quarter. Keybank National Association OH now owns 31,253 shares of the exchange traded fund’s stock valued at $23,120,000 after buying an additional 463 shares in the last quarter. Institutional investors 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: The Nasdaq-100 had recently posted its strongest session since March, with chip stocks leading a broad rebound. That recovery offers support if buyers return, though it has not prevented the latest pullback. The Nasdaq-100 Just Had Its Best Day Since March Without Nvidia’s Help
- Neutral Sentiment: QQQ’s underlying index rallied in the prior session, but coverage cautioned that key technical levels will determine whether the move marks a durable rebound or a short-lived bounce. Invesco QQQ Trust ETF Is Falling Today — Here’s Why
- Negative Sentiment: U.S. equities fell after midday, weighing on broad-market ETFs and QQQ. Exchange-Traded Funds Lower as US Equities Decline After Midday
- Negative Sentiment: Hot October inflation and resilient employment data have prompted discussion of a possible December Fed rate hike. Higher-rate expectations can pressure growth and technology shares, which carry substantial weight in QQQ. Hot October CPI Prompts Chatter of a Jumbo December Fed Rate Hike
Invesco QQQ Trading Down 0.7%
Shares of QQQ stock opened at $674.76 on Wednesday. The stock has a 50 day simple moving average of $719.39 and a 200 day simple moving average of $680.92. Invesco QQQ has a 1 year low of $555.60 and a 1 year high of $762.86.
Invesco QQQ Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Monday, September 21st were paid a dividend of $0.7514 per share. This is a drop from Invesco QQQ’s previous quarterly dividend of $0.8135. The ex-dividend date was Monday, September 21st. This represents a $3.01 dividend on an annualized basis and a yield of 0.4%.
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.
Further Reading
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