Estate Counselors LLC Trims Position in Invesco QQQ $QQQ

Key Points

• Estate Counselors LLC cut its Invesco QQQ stake by 95.2% in the first quarter, selling 11,690 shares and retaining 590 shares valued at approximately $341,000.
• Other institutional investors increased their positions, including Quantinno Capital Management, which raised its stake by 37.7%, and SummitTX Capital, which increased its stake by 72.1%. Institutional investors collectively own 44.58% of QQQ.
• QQQ opened at $682.23 after declining 0.3%, while its quarterly dividend rose to $0.8135 per share, equivalent to an annualized dividend of $3.25 and a 0.5% yield.

Estate Counselors LLC decreased its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 95.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590 shares of the exchange traded fund's stock after selling 11,690 shares during the quarter. Estate Counselors LLC's holdings in Invesco QQQ were worth $341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Evercore Wealth Management LLC boosted its position in Invesco QQQ by 9.5% in the 1st quarter. Evercore Wealth Management LLC now owns 9,603 shares of the exchange traded fund's stock valued at $5,543,000 after buying an additional 834 shares during the period. KCM Investment Advisors LLC increased its position in shares of Invesco QQQ by 0.7% during the first quarter. KCM Investment Advisors LLC now owns 59,124 shares of the exchange traded fund's stock worth $34,125,000 after acquiring an additional 399 shares during the period. Quantinno Capital Management LP increased its position in shares of Invesco QQQ by 37.7% during the first quarter. Quantinno Capital Management LP now owns 285,012 shares of the exchange traded fund's stock worth $164,503,000 after acquiring an additional 78,005 shares during the period. SummitTX Capital L.P. raised its stake in shares of Invesco QQQ by 72.1% during the first quarter. SummitTX Capital L.P. now owns 288,332 shares of the exchange traded fund's stock valued at $166,419,000 after acquiring an additional 120,788 shares in the last quarter. Finally, Cardiff Park Advisors LLC bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $7,267,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.3%

Shares of NASDAQ QQQ opened at $682.23 on Tuesday. Invesco QQQ has a 52-week low of $551.68 and a 52-week high of $748.65. The stock has a 50 day moving average price of $718.39 and a 200 day moving average price of $656.64.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were given a dividend of $0.8135 per share. This is a boost from Invesco QQQ's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $3.25 dividend on an annualized basis and a yield of 0.5%.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: Technical analysis cited QQQ bouncing from a support zone, while aggressive buying in Nvidia and optimism surrounding a potential massive OpenAI data-center project provided support for the fund’s AI- and semiconductor-heavy holdings. Aggressive Buying On Nvidia Backing Massive OpenAI Data Center And Trump Pausing Iran Attacks
• Neutral Sentiment: Fund reports describe QQQ as a passively managed ETF offering broad exposure to large-cap growth stocks. These reports provide portfolio context but do not identify a major new catalyst for the shares. Should Invesco QQQ Be on Your Investing Radar? Should Invesco QQQ Be on Your Investing Radar?
• Negative Sentiment: Commentary questioned whether QQQ’s growth is worth its opportunity cost, even though its valuation is not unusually high by the fund’s own historical standards. What Is the Growth in QQQ Actually Costing You?
• Negative Sentiment: Analysts warned that QQQ’s largest technology holdings are engaged in an AI capital-spending race, with rising investment, pressure on free cash flow and increasing competition in cloud services. Separate commentary said signs of an overstretched AI bubble are emerging. QQQ and Tech Earnings The AI Bubble Is Bigger Than Ever and the Cracks Are Starting to Show
• Negative Sentiment: Reports also highlighted potential Federal Reserve rate-hike risk and broader market warning signals, both of which could pressure high-growth technology valuations. The Next Fed Rate Hike May Be Coming Soon

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.

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.