HBW Advisory Services LLC Sells 2,756 Shares of Invesco QQQ $QQQ

Key Points

• HBW Advisory Services LLC cut its Invesco QQQ stake by 4.9% in the first quarter, selling 2,756 shares and leaving it with 53,779 shares valued at about $31.0 million. QQQ remains its second-largest holding and represents roughly 3.3% of the firm’s portfolio.
• Several other institutional investors also made small changes to their QQQ positions, and overall hedge funds and institutions own 44.58% of the ETF.
• QQQ opened at $712.05, trading above its 200-day moving average, and the fund recently raised its quarterly dividend to $0.8135 per share from $0.73, implying a 0.5% annualized yield.

HBW Advisory Services LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,779 shares of the exchange traded fund's stock after selling 2,756 shares during the period. Invesco QQQ accounts for about 3.3% of HBW Advisory Services LLC's holdings, making the stock its 2nd biggest position. HBW Advisory Services LLC's holdings in Invesco QQQ were worth $31,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of QQQ. CAP Partners LLC lifted its stake in shares of Invesco QQQ by 3.5% in the 1st quarter. CAP Partners LLC now owns 444 shares of the exchange traded fund's stock valued at $256,000 after purchasing an additional 15 shares during the last quarter. Well Done LLC increased its position in shares of Invesco QQQ by 0.5% during the 4th quarter. Well Done LLC now owns 3,439 shares of the exchange traded fund's stock valued at $2,113,000 after purchasing an additional 16 shares during the last quarter. Tenon Financial LLC increased its position in shares of Invesco QQQ by 2.2% during the 4th quarter. Tenon Financial LLC now owns 805 shares of the exchange traded fund's stock valued at $494,000 after purchasing an additional 17 shares during the last quarter. SJS Investment Consulting Inc. raised its holdings in Invesco QQQ by 1.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 1,017 shares of the exchange traded fund's stock valued at $625,000 after buying an additional 17 shares during the period. Finally, Cascade Investment Group Inc. raised its holdings in Invesco QQQ by 4.6% during the 4th quarter. Cascade Investment Group Inc. now owns 388 shares of the exchange traded fund's stock valued at $238,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $712.05 on Tuesday. The business has a fifty day moving average of $719.30 and a 200 day moving average of $650.91. Invesco QQQ has a 52-week low of $551.56 and a 52-week high of $748.65.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were paid a $0.8135 dividend. 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 0.5%. The ex-dividend date of this dividend was Monday, June 22nd.

More Invesco QQQ News

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

• Positive Sentiment: Articles highlighting the Nasdaq-100 / QQQ’s long-term edge versus income-focused ETFs may support demand for QQQ by reminding investors that covered-call strategies like JEPQ can lag a growth-heavy benchmark over time. Article Title
• Positive Sentiment: Coverage suggesting the AI trade is still strong could be supportive for QQQ, since the ETF is heavily weighted toward large-cap technology and AI-related names. Article Title
• Positive Sentiment: Discussion of SpaceX joining the Nasdaq-100 may be mildly supportive for QQQ because it reinforces the index’s exposure to high-profile growth companies, even if the initial weighting is expected to be limited. Article Title
• Neutral Sentiment: Reports that broader ETFs traded lower as U.S. equities declined point to a market-wide risk-off tone rather than anything specific to QQQ. Article Title
• Neutral Sentiment: Festival sponsorship news and general macro commentary are not likely to materially affect QQQ. Article Title
• Negative Sentiment: Broader market headlines about equity futures falling on geopolitical tension could weigh on QQQ because technology stocks tend to be sensitive to risk-off moves. Article Title
• Negative Sentiment: Articles warning that the credit market is flashing concern on AI stocks may create caution for QQQ, given its heavy exposure to mega-cap tech and AI beneficiaries. 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.