Buska Wealth Management LLC Buys 1,811 Shares of Invesco QQQ $QQQ

Key Points

• Buska Wealth Management increased its Invesco QQQ stake by 7.7% in the third quarter, purchasing 1,811 additional shares for a total of 25,444 shares valued at approximately $18.8 million.
• Several other institutional investors also expanded their QQQ positions, while institutional and hedge-fund ownership reached 44.58% of the fund.
• QQQ opened at $757.73, near its 12-month high of $762.86, but its quarterly dividend was reduced to $0.7514 per share from $0.8135, producing an annualized yield of about 0.4%.

Buska Wealth Management LLC increased its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,444 shares of the exchange traded fund's stock after purchasing an additional 1,811 shares during the quarter. Invesco QQQ makes up approximately 6.5% of Buska Wealth Management LLC's holdings, making the stock its 6th largest holding. Buska Wealth Management LLC's holdings in Invesco QQQ were worth $18,823,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in QQQ. HWG Holdings LP grew its position in shares of Invesco QQQ by 64.1% in the third quarter. HWG Holdings LP now owns 50,342 shares of the exchange traded fund's stock valued at $37,242,000 after purchasing an additional 19,665 shares during the period. FSA Investment Group LLC purchased a new position in Invesco QQQ during the third quarter worth about $1,039,000. Winebrenner Capital Management LLC lifted its position in Invesco QQQ by 25.9% during the third quarter. Winebrenner Capital Management LLC now owns 3,586 shares of the exchange traded fund's stock worth $2,653,000 after buying an additional 738 shares during the period. Elevation Wealth Partners LLC boosted its stake in Invesco QQQ by 15.9% in the 3rd quarter. Elevation Wealth Partners LLC now owns 5,358 shares of the exchange traded fund's stock worth $3,964,000 after buying an additional 737 shares during the last quarter. Finally, Cooper Financial Group boosted its stake in Invesco QQQ by 2.6% in the 3rd quarter. Cooper Financial Group now owns 81,366 shares of the exchange traded fund's stock worth $60,192,000 after buying an additional 2,044 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.3%

NASDAQ QQQ opened at $757.73 on Thursday. Invesco QQQ has a 12 month low of $555.60 and a 12 month high of $762.86. The company has a 50-day moving average of $722.59 and a 200-day moving average of $696.46.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Monday, September 21st will be given a dividend of $0.7514 per share. This represents a $3.01 annualized dividend and a yield of 0.4%. This is a negative change from Invesco QQQ's previous quarterly dividend of $0.8135. The ex-dividend date of this dividend is Monday, September 21st.

Invesco QQQ News Roundup

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

• Positive Sentiment: QQQ’s underlying Nasdaq-100 remains a strong performer, having gained more than 23% year to date. The fund has benefited from continued leadership by major technology and artificial-intelligence companies, as well as a broader technology-stock rally earlier in the week. Invesco QQQ Trust ETF Is Up 23% YTD: What’s Driving It Higher
• Positive Sentiment: Economic commentary suggesting that a U.S. recession is not imminent could support corporate earnings and risk appetite, benefiting the growth-oriented companies that dominate QQQ. A U.S. Recession Still Isn’t Imminent
• Neutral Sentiment: QQQ’s five-year outperformance versus ARKK highlights the Nasdaq-100’s relative strength, although the comparison also underscores how heavily returns have depended on a small group of large technology companies. Cathie Wood Responds to QQQ and ARKK Performance Comparison
• Negative Sentiment: Broad-market ETFs and equity futures moved lower as traders awaited the Fed’s meeting minutes. Any indication that policymakers intend to keep rates elevated could pressure QQQ’s long-duration growth and technology holdings. Exchange-Traded Funds and Equity Futures Down Pre-Bell
• Negative Sentiment: The Nasdaq’s record levels, market concentration, and concerns about a potential artificial-intelligence bubble have increased valuation and profit-taking risks for QQQ’s heavily weighted technology holdings. Exchange-Traded Funds Lower as U.S. Equities Decline
• Negative Sentiment: Weak September employment data and uncertainty over inflation and monetary policy add to concerns about the economic backdrop, contributing to a more cautious tone for risk assets. Employment Report: 29K Jobs Added in September

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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