Baker Avenue Asset Management LP Grows Position in Invesco QQQ $QQQ

Key Points

• Baker Avenue Asset Management increased its Invesco QQQ position by 3.1% in the second quarter, bringing its holdings to 103,843 shares valued at approximately $76.47 million. QQQ represents 1.4% of the firm’s portfolio and is its 15th-largest holding.
• Other institutional investors also adjusted or initiated QQQ positions, with hedge funds and institutional investors collectively owning 44.58% of the ETF.
• QQQ opened at $706.32, below its 50-day moving average but above its 200-day average, while its quarterly dividend rose to $0.8135 per share, representing an annualized yield of about 0.5%.

Baker Avenue Asset Management LP lifted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 103,843 shares of the exchange traded fund's stock after purchasing an additional 3,105 shares during the period. Invesco QQQ comprises approximately 1.4% of Baker Avenue Asset Management LP's portfolio, making the stock its 15th biggest holding. Baker Avenue Asset Management LP's holdings in Invesco QQQ were worth $76,470,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new stake in Invesco QQQ in the 4th quarter worth $25,000. Shcp LLC bought a new position in shares of Invesco QQQ during the third quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Invesco QQQ by 2,150.0% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund's stock valued at $28,000 after acquiring an additional 43 shares during the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth about $28,000. Finally, Rachor Investment Advisory Services LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $29,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $706.32 on Tuesday. Invesco QQQ has a 1 year low of $555.60 and a 1 year high of $748.65. The business's 50-day moving average is $713.01 and its 200 day moving average is $668.95.

Invesco QQQ Increases Dividend

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

Key Invesco QQQ News

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

• Neutral Sentiment: Broad-market ETFs and U.S. equities were mixed to lower, suggesting a cautious trading environment rather than a QQQ-specific catalyst. Exchange-Traded Funds Fall, US Equities Mixed After Midday
• Neutral Sentiment: Technical traders are monitoring key support and resistance levels for QQQ and its largest holdings, including Apple, Microsoft, Nvidia, Alphabet, Meta Platforms and Tesla; this may contribute to short-term volatility. How To Trade SPY, QQQ And 6 Mega Caps
• Negative Sentiment: QQQ reportedly experienced outflows while S&P 500 ETFs attracted approximately $6.4 billion in a single day. The flow divergence points to possible investor rotation away from Nasdaq-100 growth exposure and toward broader-market funds. Quick Spark: $6.4 Billion Pours Into S&P 500 ETFs as QQQ Sees Outflows
• Negative Sentiment: A decline in major Nasdaq-100 components weighed on QQQ, whose performance is heavily concentrated in mega-cap technology companies. QQQ ETF Is Down Today
• Negative Sentiment: Investors are also assessing debt-market concerns, potential credit stress and upcoming volatility tied to Nvidia’s earnings and the Jackson Hole policy meeting. These risks can pressure high-valuation growth ETFs such as QQQ. Market Volatility Risk: Nvidia Earnings and Jackson Hole Next Week

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.

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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