Brindle & Bay Financial Advisors LLC lowered its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 64.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,031 shares of the exchange traded fund's stock after selling 16,568 shares during the quarter. Invesco QQQ makes up approximately 3.2% of Brindle & Bay Financial Advisors LLC's holdings, making the stock its 8th biggest holding. Brindle & Bay Financial Advisors LLC's holdings in Invesco QQQ were worth $5,213,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in QQQ. University of Texas Texas AM Investment Management Co. bought a new stake in Invesco QQQ during the fourth quarter worth about $25,000. Shcp LLC bought a new position in shares of Invesco QQQ in the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings 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 worth $28,000 after acquiring an additional 43 shares in the last quarter. Rachor Investment Advisory Services LLC acquired a new position in shares of Invesco QQQ in the 4th quarter worth approximately $29,000. Finally, Islay Capital Management LLC acquired a new position in shares of Invesco QQQ in the 4th quarter worth approximately $32,000. 44.58% of the stock is owned by institutional investors.
Trending Headlines about Invesco QQQ
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: Several pieces pointed to QQQ as a favored way to buy the recent tech pullback, including coverage describing it as a top ETF to load up on during the sell-off and highlighting continued investor demand for Nasdaq-100 exposure. Article Title
- Positive Sentiment: Market chatter around strong Nasdaq-100 trading activity and bullish positioning suggests some investors are still betting on a rebound in large-cap growth and AI-related stocks, which can support QQQ. Article Title
- Neutral Sentiment: BlackRock launched a competing Nasdaq-100 ETF, IQQ, which may increase competition in the category, but it also reinforces continued interest in Nasdaq-100 index products overall. Article Title
- Neutral Sentiment: Other articles focused on macro themes such as inflation, Fed policy, geopolitical tensions, and labor data; these can move QQQ through risk appetite, but they do not directly change the ETF’s fundamentals. Article Title
- Negative Sentiment: Several commentary pieces warned that higher inflation, a hawkish Fed, and geopolitical stress could pressure growth stocks and reduce appetite for Nasdaq-heavy exposure, which is a headwind for QQQ. Article Title
Invesco QQQ Stock Performance
NASDAQ QQQ opened at $725.51 on Monday. The stock's 50 day simple moving average is $718.41 and its 200 day simple moving average is $650.28. Invesco QQQ has a one year low of $551.56 and a one year high of $748.65.
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 paid 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 0.4%. The ex-dividend date of this dividend was Monday, June 22nd.
Invesco QQQ Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).
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