Bessemer Group Inc. Raises Position in Invesco QQQ $QQQ

Key Points

• Bessemer Group Inc. increased its Invesco QQQ stake by 8.1% in the first quarter, buying 4,373 additional shares and bringing its total to 58,285 shares worth about $33.64 million.
• Institutional ownership remains significant, with hedge funds and other institutional investors holding 44.58% of QQQ. The article also notes several smaller funds initiated or expanded positions during recent quarters.
• QQQ recently paid a higher quarterly dividend of $0.8135 per share, up from $0.73, while the ETF has also faced mixed performance pressures from softening risk appetite and weakness in chip and tech stocks.

Bessemer Group Inc. boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,285 shares of the exchange traded fund's stock after purchasing an additional 4,373 shares during the period. Bessemer Group Inc.'s holdings in Invesco QQQ were worth $33,641,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in Invesco QQQ during the 4th quarter worth approximately $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in Invesco QQQ by 2,150.0% in 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 purchasing an additional 43 shares during the last quarter. Shcp LLC bought a new stake in Invesco QQQ in the third quarter valued at approximately $27,000. Rachor Investment Advisory Services LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $29,000. Finally, Islay Capital Management LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $32,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

More Invesco QQQ News

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

• Positive Sentiment: Apple is outperforming and hitting fresh records, which helps support QQQ because AAPL is one of its largest holdings. AAPL Stock Hits Fresh Record As July Rally Nears Best Month In Nearly 4 Years — HSBC Sees Another 10% Upside
• Neutral Sentiment: New ETF launches and commentary continue to highlight investor interest in Nasdaq and tech income strategies, but these are not strong enough to move QQQ on their own. Meet TMGN, the 0.88 Fee ETF Betting on Tech Giants and Options Income
• Neutral Sentiment: Broad-market ETFs and U.S. equities were mixed to lower intraday, suggesting overall risk appetite has softened. Exchange-Traded Funds Fall as US Equities Decline After Midday
• Negative Sentiment: Chip stocks are under pressure on TSMC capex concerns, hurting the semiconductor-heavy portion of the Nasdaq-100 and weighing on QQQ. S&P 500, Nasdaq, Dow End Lower As Chip Stocks Slide On TSMC Capex Concerns — TSM, MU, NVDA, UNH, GOOGL In Focus
• Negative Sentiment: Tech and momentum stocks are seeing some of the highest volatility in decades, adding to pressure on the Nasdaq-100 and QQQ. The Tech Shakeout: Market Extremes & Gavin Baker's Bold Call

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $695.33 on Friday. Invesco QQQ has a 52-week low of $551.68 and a 52-week high of $748.65. The company's 50 day moving average price is $720.41 and its 200-day moving average price is $653.13.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.8135 per share. 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 dividend yield of 0.5%. The ex-dividend date was Monday, June 22nd.

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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