CENTRAL TRUST Co Decreases Stake in Invesco QQQ $QQQ

Key Points

• CENTRAL TRUST Co reduced its Invesco QQQ stake by 12.1% in the first quarter, selling 2,999 shares and leaving it with 21,787 shares valued at about $12.6 million.
• Other big institutional investors have been active in QQQ, with several sharply increasing holdings; hedge funds and other institutions now own 44.58% of the ETF.
• QQQ was down 0.6% to $709.51, while the fund also announced a higher quarterly dividend of $0.8135 per share, up from $0.73 previously.

CENTRAL TRUST Co cut its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,787 shares of the exchange traded fund's stock after selling 2,999 shares during the period. CENTRAL TRUST Co's holdings in Invesco QQQ were worth $12,575,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Corient Private Wealth LLC raised its holdings in shares of Invesco QQQ by 3,567.7% during the 4th quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund's stock worth $13,168,912,000 after acquiring an additional 20,852,432 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Invesco QQQ by 381.0% in the fourth quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund's stock valued at $12,008,257,000 after purchasing an additional 26,505,055 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Invesco QQQ by 11.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,547,591 shares of the exchange traded fund's stock worth $2,179,321,000 after purchasing an additional 375,581 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Invesco QQQ by 21.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,025,000 shares of the exchange traded fund's stock worth $1,858,288,000 after purchasing an additional 534,000 shares during the last quarter. Finally, Analyst IMS Investment Management Services Ltd. raised its stake in Invesco QQQ by 68.6% during the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 1,750,079 shares of the exchange traded fund's stock valued at $1,075,091,000 after purchasing an additional 712,026 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.6%

QQQ stock opened at $709.51 on Thursday. Invesco QQQ has a 52 week low of $539.38 and a 52 week high of $748.65. The company has a fifty day simple moving average of $701.85 and a two-hundred day simple moving average of $641.70.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.8135 per share. The ex-dividend date is Monday, June 22nd. This represents a $3.25 annualized dividend and a dividend yield of 0.5%. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.73.

Invesco QQQ News Roundup

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

• Positive Sentiment: Some commentary argues the recent AI and semiconductor pullback is likely profit-taking rather than a broken long-term story, which could help QQQ rebound if buyers return. Market Strategist Says AI Selloff Is ‘Just Profit-Taking,' Not a Broken Story
• Positive Sentiment: Several market outlook pieces suggest the S&P 500 and the broader rally still have upside left, which supports sentiment for large-cap growth exposure like QQQ. S&P 500's Rally Still Looks Fundamentally Well Supported
• Positive Sentiment: Wall Street commentary says the current summer slump in stocks may be short-lived, suggesting recent weakness could be temporary rather than a trend change. Why Wall Street's Summer Slump Will Be Short-Lived
• Neutral Sentiment: QQQ remains heavily used by options traders, and a new article highlighted covered-call income potential in the ETF. This reinforces QQQ’s popularity but does not materially change fundamentals. Can You Sell Covered Calls on Leveraged ETFs for Income? Yes, But The Yield Is Risky
• Neutral Sentiment: State Street launched a new Nasdaq 100 ETF, adding competition for QQQ-style exposure, but the near-term effect on QQQ’s price should be limited. State Street Goes Heads Up With Qs, Launches Nasdaq 100 ETF
• Negative Sentiment: Market coverage noted a broader tech sell-off and weakness in chip stocks, which is a headwind for QQQ because the fund is heavily weighted toward large technology names. Stock Market Today: Dow Falls After Tech Sell-Off; FedEx Dives On Earnings (Live Coverage)
• Negative Sentiment: Other commentary pointed to risks from higher-for-longer interest rates, rising real yields, and signs of a potential market rotation away from tech, all of which can pressure QQQ. Higher-For-Longer Interest Rates Could Disrupt The Current Market Narrative

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.

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.