AIA Group Ltd Has $477.84 Million Position in Invesco QQQ $QQQ

Key Points

• AIA Group Ltd reduced its stake in Invesco QQQ by 14.7% in the first quarter, selling 142,126 shares and leaving it with 827,892 shares worth about $477.84 million.
• QQQ remains a major holding for AIA Group, making up 6.9% of its portfolio and ranking as its third-largest position.
• The ETF recently raised its quarterly dividend to $0.8135 per share, up from $0.73, though the yield remains modest at about 0.5%.

AIA Group Ltd lowered its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 827,892 shares of the exchange traded fund's stock after selling 142,126 shares during the quarter. Invesco QQQ accounts for about 6.9% of AIA Group Ltd's investment portfolio, making the stock its 3rd biggest holding. AIA Group Ltd owned 0.13% of Invesco QQQ worth $477,843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Carrera Capital Advisors lifted its holdings in Invesco QQQ by 99.3% during the fourth quarter. Carrera Capital Advisors now owns 2,316 shares of the exchange traded fund's stock valued at $1,423,000 after purchasing an additional 1,154 shares in the last quarter. Flatrock Wealth Partners LLC purchased a new stake in shares of Invesco QQQ in the first quarter worth $924,000. Hegarty Advisors LLC purchased a new stake in Invesco QQQ in the 1st quarter worth $2,212,000. Sovran Advisors LLC grew its position in shares of Invesco QQQ by 8.0% during the fourth quarter. Sovran Advisors LLC now owns 18,032 shares of the exchange traded fund's stock worth $11,212,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Corepath Wealth Partners LLC grew its position in shares of Invesco QQQ by 19.7% during the fourth quarter. Corepath Wealth Partners LLC now owns 8,723 shares of the exchange traded fund's stock worth $5,471,000 after purchasing an additional 1,436 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $695.33 on Friday. The stock's 50 day moving average is $720.41 and its 200 day moving average is $653.13. Invesco QQQ has a 12 month low of $551.68 and a 12 month high of $748.65.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were paid a $0.8135 dividend. This represents a $3.25 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, June 22nd. This is an increase from Invesco QQQ's previous quarterly dividend of $0.73.

Key Stories Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: Apple is outperforming and hitting fresh records, which helps support QQQ because AAPL is one of its largest holdings. AAPL Stock Hits Fresh Record As July Rally Nears Best Month In Nearly 4 Years — HSBC Sees Another 10% Upside
• Neutral Sentiment: New ETF launches and commentary continue to highlight investor interest in Nasdaq and tech income strategies, but these are not strong enough to move QQQ on their own. Meet TMGN, the 0.88 Fee ETF Betting on Tech Giants and Options Income
• Neutral Sentiment: Broad-market ETFs and U.S. equities were mixed to lower intraday, suggesting overall risk appetite has softened. Exchange-Traded Funds Fall as US Equities Decline After Midday
• Negative Sentiment: Chip stocks are under pressure on TSMC capex concerns, hurting the semiconductor-heavy portion of the Nasdaq-100 and weighing on QQQ. S&P 500, Nasdaq, Dow End Lower As Chip Stocks Slide On TSMC Capex Concerns — TSM, MU, NVDA, UNH, GOOGL In Focus
• Negative Sentiment: Tech and momentum stocks are seeing some of the highest volatility in decades, adding to pressure on the Nasdaq-100 and QQQ. The Tech Shakeout: Market Extremes & Gavin Baker's Bold Call

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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