Innova Wealth Partners Sells 1,482 Shares of Invesco QQQ $QQQ

Key Points

• Innova Wealth Partners reduced its Invesco QQQ stake by 23.7% in the third quarter, selling 1,482 shares and retaining 4,762 shares worth approximately $3.52 million.
• Other institutional investors increased or initiated positions in QQQ, while institutions and hedge funds collectively owned 44.58% of the ETF.
• QQQ traded near $725.20, with AI and technology demand offering potential support but elevated valuations, higher interest rates, and AI-related credit risks creating downside pressure. Its quarterly dividend also fell to $0.7514, implying a 0.4% yield.

Innova Wealth Partners cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 23.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,762 shares of the exchange traded fund's stock after selling 1,482 shares during the period. Invesco QQQ makes up approximately 1.4% of Innova Wealth Partners' investment portfolio, making the stock its 22nd largest holding. Innova Wealth Partners' holdings in Invesco QQQ were worth $3,523,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. High Point Wealth Management LLC lifted its stake in Invesco QQQ by 68.0% in the second quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund's stock valued at $31,000 after buying an additional 17 shares during the period. Parvin Asset Management LLC bought a new position in Invesco QQQ during the first quarter worth about $28,000. Financial Management Professionals Inc. boosted its holdings in Invesco QQQ by 83.3% during the second quarter. Financial Management Professionals Inc. now owns 55 shares of the exchange traded fund's stock worth $41,000 after buying an additional 25 shares during the last quarter. Bullseye Investment Management LLC bought a new position in Invesco QQQ during the second quarter worth about $44,000. Finally, Roxbury Financial LLC grew its position in shares of Invesco QQQ by 19.7% during the 2nd quarter. Roxbury Financial LLC now owns 91 shares of the exchange traded fund's stock worth $67,000 after buying an additional 15 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

More Invesco QQQ News

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

• Positive Sentiment: QQQ’s exposure to NVIDIA is a key potential support, with the semiconductor giant identified as the leading purchase in recent fund activity. Continued investor demand for AI infrastructure stocks could lift the ETF. What Invesco QQQ Bought: NVIDIA Leads on Oct. 19
• Positive Sentiment: Technology futures rose, supporting QQQ, as strong results from SpaceX boosted enthusiasm for growth and technology shares. Upcoming Meta and Tesla earnings could provide additional catalysts because both companies are major Nasdaq-100 holdings. Stock Market Today: Tech Futures Rise With SpaceX Earnings
• Positive Sentiment: Broad U.S. equities advanced in midday trading, indicating that buying interest extended beyond a narrow group of technology names and provided a supportive backdrop for QQQ. Exchange-Traded Funds Gain as US Equities Advance After Midday
• Neutral Sentiment: Recent reports describe choppy trading and an uneven market response to higher rates. This leaves QQQ sensitive to bond yields: stable or falling yields would help, while further rate increases could pressure its growth-oriented holdings. Market's Uneven Response To Higher Rates
• Negative Sentiment: Several commentaries warn that AI valuations may represent a bubble or the late stage of a boom. Such concerns could trigger profit-taking in highly valued QQQ constituents, particularly AI-related chip and cloud companies. Ken Griffin: There Are “Almost Certainly Bubbles” in AI Right Now
• Negative Sentiment: Credit concerns surrounding AI infrastructure companies, including debt risks highlighted for CoreWeave, add to worries that aggressive AI spending may not generate adequate returns. This could weigh indirectly on QQQ’s broader AI trade. CoreWeave Falls as HSBC Reiterates Bearish Call on Debt Risk

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $725.20 on Thursday. The business has a 50-day moving average of $726.65 and a 200-day moving average of $707.26. Invesco QQQ has a 1 year low of $555.60 and a 1 year high of $762.86.

Invesco QQQ Cuts Dividend

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

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.

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