Angeles Wealth Management LLC Acquires 3,375 Shares of Invesco QQQ $QQQ

Key Points

• Angeles Wealth Management increased its Invesco QQQ stake by 157.9% in the second quarter, purchasing 3,375 additional shares for a total of 5,512 shares valued at approximately $4.06 million.
• QQQ traded near $718.96, close to its 52-week high of $748.65, while institutional investors owned 44.58% of the ETF. Its quarterly dividend rose to $0.8135 per share, representing a 0.5% annualized yield.
• Nasdaq-100 strength, better-than-expected employment data and solid technology earnings supported QQQ, but potential rate delays, rising Treasury yields and concerns over AI-related profit margins remain risks for its growth-focused holdings.

Angeles Wealth Management LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 157.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,512 shares of the exchange traded fund's stock after buying an additional 3,375 shares during the period. Angeles Wealth Management LLC's holdings in Invesco QQQ were worth $4,064,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in Invesco QQQ in the fourth quarter valued at about $25,000. Shcp LLC acquired a new stake in shares of Invesco QQQ in the 3rd quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake 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 purchasing an additional 43 shares in the last quarter. Parvin Asset Management LLC bought a new stake in shares of Invesco QQQ during the 1st quarter valued at approximately $28,000. Finally, High Point Wealth Management LLC increased its position in Invesco QQQ by 68.0% during the 2nd quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund's stock worth $31,000 after purchasing an additional 17 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Key Stories Impacting 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

Shares of Invesco QQQ stock opened at $718.96 on Friday. Invesco QQQ has a fifty-two week low of $555.60 and a fifty-two week high of $748.65. The company's 50 day moving average price is $711.26 and its two-hundred day moving average price is $675.29.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 22nd were issued 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 annualized dividend and a dividend yield of 0.5%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source