Base Wealth Management LLC Sells 3,460 Shares of Invesco QQQ $QQQ

Key Points

• Base Wealth Management LLC cut its Invesco QQQ stake by 22.7% in the first quarter, selling 3,460 shares and leaving it with 11,801 shares worth about $6.81 million.
• Institutional ownership remains significant, with several large investors recently increasing or establishing positions in QQQ; the article notes institutions hold 44.58% of the ETF.
• QQQ is trading near its recent highs and boosted its dividend, opening at $711.44 with a 50-day average of $715.82, a 1-year range of $551.56 to $748.65, and a quarterly dividend raised to $0.8135 per share.

Base Wealth Management LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 22.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,801 shares of the exchange traded fund's stock after selling 3,460 shares during the quarter. Invesco QQQ accounts for 3.8% of Base Wealth Management LLC's holdings, making the stock its 12th biggest holding. Base Wealth Management LLC's holdings in Invesco QQQ were worth $6,811,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in Invesco QQQ by 381.0% in the fourth quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund's stock valued at $12,008,257,000 after buying an additional 26,505,055 shares in the last quarter. Corient Private Wealth LLC raised its stake in Invesco QQQ by 3,567.7% during the fourth quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund's stock worth $13,168,912,000 after acquiring an additional 20,852,432 shares in the last quarter. Delta Global Management LP bought a new position in shares of Invesco QQQ in the fourth quarter worth about $821,084,000. Align Financial LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth about $78,118,000. Finally, SG Americas Securities LLC boosted its stake in shares of Invesco QQQ by 120.2% in the 4th quarter. SG Americas Securities LLC now owns 213,722 shares of the exchange traded fund's stock valued at $131,292,000 after purchasing an additional 1,270,102 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.3%

Shares of Invesco QQQ stock opened at $711.44 on Thursday. The firm's 50 day moving average is $715.82 and its 200 day moving average is $648.78. Invesco QQQ has a 1 year low of $551.56 and a 1 year high of $748.65.

Invesco QQQ Increases Dividend

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

Key Headlines Impacting Invesco QQQ

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

• Positive Sentiment: QQQ continues to be viewed as a relatively resilient way to own the AI and tech trade, with commentary noting it absorbed recent tech turbulence better than more concentrated names like CoreWeave. CRWV Vs. QQQ: Buy CoreWeave for Explosive AI Alpha or Hold QQQ for Insulated Macro Safety?
• Positive Sentiment: SpaceX’s addition to the Nasdaq-100 is seen as a modest tailwind for index funds like QQQ, since passive funds tracking the Nasdaq-100 have to own the new constituent. SpaceX Is Joining the Nasdaq-100 This Week. What This Means for Invesco QQQ Investors.
• Neutral Sentiment: Several articles highlight how dominant the Nasdaq-100 has become in growth ETF flows, which supports QQQ’s importance but also reinforces that investors are crowded into the same mega-cap names. The Nasdaq 100 Now Controls a Quarter of Every Growth ETF Dollar
• Neutral Sentiment: BlackRock’s planned cheaper Nasdaq-100 ETF may increase competition for QQQ, but it does not change the fund’s holdings or near-term market exposure. QQQ, Meet IQQ. BlackRock Is Launching a Cheaper Nasdaq-100 ETF.
• Negative Sentiment: Broader market weakness tied to U.S.-Iran tensions, higher oil prices, and rising Treasury yields weighed on tech and chip stocks, which can pressure QQQ because of its heavy concentration in those sectors. Dow Ends Lower To Record Worst Day In Nearly A Month As US-Iran Jitters Push Oil Prices
• Negative Sentiment: Market commentary is increasingly focused on AI-trade fatigue and concentration risk in the Nasdaq, raising concerns that the rally may be vulnerable if the biggest growth names weaken. Broadcom Stock: The 1 Number That Could Tell You a Market Turn Is Coming

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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