Invesco QQQ $QQQ Holdings Lessened by Commonwealth Financial Services LLC

Key Points

• Commonwealth Financial Services LLC trimmed its Invesco QQQ stake by 4.7% in the first quarter, selling 2,588 shares and leaving it with 52,760 shares valued at about $30.45 million.
• Despite that reduction, QQQ remains a major holding for the firm, making up 4.8% of its portfolio and ranking as its fourth-largest position.
• Invesco QQQ recently raised its quarterly dividend to $0.8135 per share from $0.73, putting the ETF on a $3.25 annualized dividend and about a 0.5% yield.

Commonwealth Financial Services LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 52,760 shares of the exchange traded fund's stock after selling 2,588 shares during the quarter. Invesco QQQ accounts for 4.8% of Commonwealth Financial Services LLC's investment portfolio, making the stock its 4th largest position. Commonwealth Financial Services LLC's holdings in Invesco QQQ were worth $30,452,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. CAP Partners LLC raised its position in Invesco QQQ by 3.5% in the first 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 period. Durante & Waters LLC boosted its position in shares of Invesco QQQ by 1.1% during the first quarter. Durante & Waters LLC now owns 1,425 shares of the exchange traded fund's stock worth $822,000 after buying an additional 15 shares during the period. Well Done LLC boosted its position in shares of Invesco QQQ by 0.5% during the fourth quarter. Well Done LLC now owns 3,439 shares of the exchange traded fund's stock worth $2,113,000 after buying an additional 16 shares during the period. Forty three Eighteen Advisors LLC grew its stake in shares of Invesco QQQ by 0.6% in the first quarter. Forty three Eighteen Advisors LLC now owns 2,694 shares of the exchange traded fund's stock valued at $1,555,000 after buying an additional 16 shares in the last quarter. Finally, Tenon Financial LLC grew its stake in shares of Invesco QQQ by 2.2% in the fourth quarter. Tenon Financial LLC now owns 805 shares of the exchange traded fund's stock valued at $494,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ stock opened at $695.33 on Monday. Invesco QQQ has a 12-month low of $551.68 and a 12-month high of $748.65. The business's fifty day moving average price is $720.41 and its 200 day moving average price is $653.36.

Invesco QQQ Increases Dividend

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

Invesco QQQ News Roundup

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

• Positive Sentiment: Apple is outperforming and hitting fresh records, which helps support QQQ because AAPL is one of its largest holdings. AAPL Stock Hits Fresh Record As July Rally Nears Best Month In Nearly 4 Years — HSBC Sees Another 10% Upside
• Neutral Sentiment: New ETF launches and commentary continue to highlight investor interest in Nasdaq and tech income strategies, but these are not strong enough to move QQQ on their own. Meet TMGN, the 0.88 Fee ETF Betting on Tech Giants and Options Income
• Neutral Sentiment: Broad-market ETFs and U.S. equities were mixed to lower intraday, suggesting overall risk appetite has softened. Exchange-Traded Funds Fall as US Equities Decline After Midday
• Negative Sentiment: Chip stocks are under pressure on TSMC capex concerns, hurting the semiconductor-heavy portion of the Nasdaq-100 and weighing on QQQ. S&P 500, Nasdaq, Dow End Lower As Chip Stocks Slide On TSMC Capex Concerns — TSM, MU, NVDA, UNH, GOOGL In Focus
• Negative Sentiment: Tech and momentum stocks are seeing some of the highest volatility in decades, adding to pressure on the Nasdaq-100 and QQQ. The Tech Shakeout: Market Extremes & Gavin Baker's Bold Call

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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