Burney Co. Cuts Holdings in Invesco QQQ $QQQ

Key Points

• Burney Co. cut its Invesco QQQ stake by 55% in the first quarter, selling 3,269 shares and ending with 2,678 shares valued at about $1.545 million, according to its latest 13F filing.
• Institutional interest in QQQ remains active, with several other hedge funds increasing or initiating positions, and institutions overall owning 44.58% of the fund.
• QQQ recently boosted its quarterly dividend to $0.8135 per share from $0.73, payable July 10, while shares were trading around $711.44, near the high end of their 52-week range.

Burney Co. lowered its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 55.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,678 shares of the exchange traded fund's stock after selling 3,269 shares during the period. Burney Co.'s holdings in Invesco QQQ were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Carrera Capital Advisors raised its stake in Invesco QQQ by 99.3% during the 4th quarter. Carrera Capital Advisors now owns 2,316 shares of the exchange traded fund's stock valued at $1,423,000 after acquiring an additional 1,154 shares during the last quarter. Sovran Advisors LLC grew its stake in shares of Invesco QQQ by 8.0% in the 4th quarter. Sovran Advisors LLC now owns 18,032 shares of the exchange traded fund's stock valued at $11,212,000 after purchasing an additional 1,340 shares during the last quarter. Corepath Wealth Partners LLC grew its stake in shares of Invesco QQQ by 19.7% in the 4th quarter. Corepath Wealth Partners LLC now owns 8,723 shares of the exchange traded fund's stock valued at $5,471,000 after purchasing an additional 1,436 shares during the last quarter. Cane Capital Partners LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $715,000. Finally, Asset Allocation Strategies LLC acquired a new position in shares of Invesco QQQ in the first quarter valued at approximately $18,142,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $711.44 on Thursday. Invesco QQQ has a one year low of $551.56 and a one year high of $748.65. The firm has a fifty day moving average of $715.82 and a two-hundred day moving average of $648.78.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 22nd will be 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 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, June 22nd.

Trending Headlines about 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 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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