Carmel Capital Partners LLC Makes New Investment in Invesco QQQ $QQQ

Key Points

• Carmel Capital Partners LLC opened a new position in Invesco QQQ during the first quarter, buying 3,043 shares worth about $1.76 million.
• Other institutional investors also adjusted their QQQ holdings, and institutions now own 44.58% of the ETF, showing continued professional interest in Nasdaq-100 exposure.
• QQQ shares were up slightly to $725.51, and the fund recently raised its quarterly dividend to $0.8135 per share from $0.73 previously.

Carmel Capital Partners LLC purchased a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,043 shares of the exchange traded fund's stock, valued at approximately $1,756,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Carrera Capital Advisors boosted its stake in Invesco QQQ by 99.3% during the fourth quarter. Carrera Capital Advisors now owns 2,316 shares of the exchange traded fund's stock valued at $1,423,000 after buying an additional 1,154 shares during the last quarter. Flatrock Wealth Partners LLC purchased a new position in shares of Invesco QQQ during the 1st quarter worth about $924,000. Hegarty Advisors LLC bought a new position in shares of Invesco QQQ during the first quarter valued at approximately $2,212,000. Sovran Advisors LLC grew its position in 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 acquiring an additional 1,340 shares during the last quarter. Finally, Corepath Wealth Partners LLC grew its holdings in shares of Invesco QQQ by 19.7% in the fourth quarter. Corepath Wealth Partners LLC now owns 8,723 shares of the exchange traded fund's stock worth $5,471,000 after purchasing an additional 1,436 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.3%

Shares of NASDAQ:QQQ opened at $725.51 on Friday. The firm's 50 day simple moving average is $718.41 and its 200-day simple moving average is $650.06. Invesco QQQ has a one year low of $551.56 and a one year high of $748.65.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were paid 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 dividend yield of 0.4%. The ex-dividend date was Monday, June 22nd.

Invesco QQQ News Roundup

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 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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.