Ascentis Wealth Management LLC Increases Holdings in Invesco QQQ $QQQ

Key Points

• Ascentis Wealth Management increased its Invesco QQQ stake by 74,117.2% in the second quarter, acquiring 194,187 additional shares for a total holding of 194,449 shares valued at approximately $143.2 million.
• QQQ opened at $713.44, near its 50-day moving average, with a one-year range of $555.60 to $748.65. Institutional investors collectively own 44.58% of the ETF.
• Invesco QQQ raised its quarterly dividend to $0.8135 per share from $0.73, implying an annualized dividend of $3.25 and a yield of approximately 0.5%; elevated interest rates and credit-market concerns remain potential risks for its growth-oriented technology holdings.

Ascentis Wealth Management LLC raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 74,117.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 194,449 shares of the exchange traded fund's stock after acquiring an additional 194,187 shares during the period. Ascentis Wealth Management LLC's holdings in Invesco QQQ were worth $143,192,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of QQQ. CAP Partners LLC lifted its position in Invesco QQQ by 3.5% during the first quarter. CAP Partners LLC now owns 444 shares of the exchange traded fund's stock valued at $256,000 after purchasing an additional 15 shares during the period. Durante & Waters LLC lifted its position in Invesco QQQ by 1.1% during the first quarter. Durante & Waters LLC now owns 1,425 shares of the exchange traded fund's stock valued at $822,000 after purchasing an additional 15 shares during the last quarter. Roxbury Financial LLC raised its holdings in Invesco QQQ by 19.7% during the 2nd quarter. Roxbury Financial LLC now owns 91 shares of the exchange traded fund's stock valued at $67,000 after buying an additional 15 shares during the period. GoalVest Advisory LLC grew its stake in shares of Invesco QQQ by 0.5% during the second quarter. GoalVest Advisory LLC now owns 3,016 shares of the exchange traded fund's stock valued at $2,221,000 after buying an additional 15 shares during the last quarter. Finally, Forty three Eighteen Advisors LLC boosted its position in Invesco QQQ by 0.6% in the 1st quarter. Forty three Eighteen Advisors LLC now owns 2,694 shares of the exchange traded fund's stock valued at $1,555,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $713.44 on Friday. The company's 50-day simple moving average is $713.76 and its two-hundred day simple moving average is $668.02. Invesco QQQ has a one year low of $555.60 and a one year high of $748.65.

Invesco QQQ Increases Dividend

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

Invesco QQQ News Roundup

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

• Positive Sentiment: U.S. equities and exchange-traded funds advanced after midday, providing a favorable backdrop for QQQ’s Nasdaq-100 holdings. Exchange-Traded Funds Rise as US Equities Advance After Midday
• Positive Sentiment: An analysis describing a relatively inexpensive way to own artificial-intelligence exposure may reinforce demand for established technology companies represented heavily in QQQ. The Boring Way To Own AI Is Now The Cheap Way
• Positive Sentiment: Technical market commentary identified key support and resistance levels for QQQ and major holdings including Apple, Microsoft, Nvidia, Alphabet, Meta and Tesla, potentially encouraging dip-buying if support holds. How To Trade SPY, QQQ And 6 Mega Caps
• Neutral Sentiment: Market coverage said stocks were attempting to rebound while yields moved higher, leaving QQQ caught between improving risk appetite and pressure from higher borrowing costs. Markets Try To Bounce Back As Yields Head Higher
• Neutral Sentiment: Debate over Treasury policy, inflation, monetary support and U.S. market leadership is adding uncertainty to the interest-rate outlook, an important driver of growth-stock valuations. War, Inflation, And The Battle For Market Leadership
• Negative Sentiment: Credit-market risks may be underappreciated by AI-focused stocks, raising concerns about concentrated valuations and potential volatility among QQQ’s technology holdings. AI Stocks May Be Ignoring A Growing Risk Seen In Credit Markets
• Negative Sentiment: A hawkish interpretation of Federal Reserve minutes and the recent bond selloff could keep interest rates elevated, which generally weighs on high-growth technology stocks. Fed Minutes Lean Hawkish, But We Don't Expect A Hike

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.

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