American Trust Sells 5,289 Shares of Invesco QQQ $QQQ

Key Points

• American Trust trimmed its Invesco QQQ stake by 10.9% in the first quarter, selling 5,289 shares and leaving it with 43,206 shares worth about $24.9 million.
• QQQ remains popular with institutional investors, with several other hedge funds also increasing positions, while institutional ownership of the ETF stands at 44.58%.
• The ETF has seen mixed but generally supportive market sentiment, as investors continue to view QQQ as a favored way to buy the tech pullback, even as inflation, Fed policy, and competition in the Nasdaq-100 ETF space could create headwinds.

American Trust lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,206 shares of the exchange traded fund's stock after selling 5,289 shares during the quarter. Invesco QQQ makes up 2.2% of American Trust's portfolio, making the stock its 12th largest holding. American Trust's holdings in Invesco QQQ were worth $24,938,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Sachetta LLC increased its stake in shares of Invesco QQQ by 3.2% in the 1st quarter. Sachetta LLC now owns 45,587 shares of the exchange traded fund's stock worth $26,312,000 after purchasing an additional 1,429 shares in the last quarter. WealthShield Partners LLC lifted its position in Invesco QQQ by 4.9% during the first quarter. WealthShield Partners LLC now owns 4,179 shares of the exchange traded fund's stock valued at $2,412,000 after purchasing an additional 197 shares in the last quarter. Advisors Management Group Inc. ADV lifted its position in Invesco QQQ by 1.4% during the first quarter. Advisors Management Group Inc. ADV now owns 7,546 shares of the exchange traded fund's stock valued at $4,355,000 after purchasing an additional 101 shares in the last quarter. Triton Wealth Management PLLC grew its holdings in Invesco QQQ by 9.6% during the first quarter. Triton Wealth Management PLLC now owns 45,929 shares of the exchange traded fund's stock valued at $26,959,000 after purchasing an additional 4,023 shares during the period. Finally, Granite Bay Wealth Management LLC increased its position in Invesco QQQ by 2.0% in the first quarter. Granite Bay Wealth Management LLC now owns 4,472 shares of the exchange traded fund's stock worth $2,581,000 after buying an additional 88 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: Several pieces pointed to QQQ as a favored way to buy the recent tech pullback, including coverage describing it as a top ETF to load up on during the sell-off and highlighting continued investor demand for Nasdaq-100 exposure. Article Title
• Positive Sentiment: Market chatter around strong Nasdaq-100 trading activity and bullish positioning suggests some investors are still betting on a rebound in large-cap growth and AI-related stocks, which can support QQQ. Article Title
• Neutral Sentiment: BlackRock launched a competing Nasdaq-100 ETF, IQQ, which may increase competition in the category, but it also reinforces continued interest in Nasdaq-100 index products overall. Article Title
• Neutral Sentiment: Other articles focused on macro themes such as inflation, Fed policy, geopolitical tensions, and labor data; these can move QQQ through risk appetite, but they do not directly change the ETF’s fundamentals. Article Title
• Negative Sentiment: Several commentary pieces warned that higher inflation, a hawkish Fed, and geopolitical stress could pressure growth stocks and reduce appetite for Nasdaq-heavy exposure, which is a headwind for QQQ. Article Title

Invesco QQQ Stock Performance

QQQ traded up $2.23 during midday trading on Friday, reaching $725.51. The company had a trading volume of 26,367,856 shares, compared to its average volume of 40,630,508. The business has a 50-day moving average of $718.41 and a two-hundred day moving average of $650.06. Invesco QQQ has a 1 year low of $551.56 and a 1 year high of $748.65.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were paid a dividend of $0.8135 per share. This represents a $3.25 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.73.

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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