Invesco QQQ $QQQ is Triton Wealth Management PLLC's 3rd Largest Position

Key Points

• Triton Wealth Management PLLC increased its Invesco QQQ stake by 9.6% in the first quarter, ending with 45,929 shares worth about $26.96 million. QQQ now makes up roughly 10% of the firm’s portfolio and is its third-largest holding.
• Several other institutional investors also boosted or initiated positions in QQQ, and the ETF remains widely held by hedge funds and other large investors, with 44.58% ownership reported.
• QQQ rose to $725.51 on Friday and also paid a higher quarterly dividend of $0.8135, up from $0.73 previously. The broader story around QQQ remains mixed, with bullish demand for Nasdaq-100 exposure offset by concerns over inflation, Fed policy, and geopolitical risks.

Triton Wealth Management PLLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,929 shares of the exchange traded fund's stock after buying an additional 4,023 shares during the quarter. Invesco QQQ makes up approximately 10.0% of Triton Wealth Management PLLC's portfolio, making the stock its 3rd biggest position. Triton Wealth Management PLLC's holdings in Invesco QQQ were worth $26,959,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Carrera Capital Advisors lifted its holdings in Invesco QQQ by 99.3% during the 4th quarter. Carrera Capital Advisors now owns 2,316 shares of the exchange traded fund's stock worth $1,423,000 after buying an additional 1,154 shares during the last quarter. Flatrock Wealth Partners LLC purchased a new position in shares of Invesco QQQ in the 1st quarter valued at about $924,000. Hegarty Advisors LLC purchased a new position in shares of Invesco QQQ in the 1st quarter valued at about $2,212,000. Sovran Advisors LLC raised its position in shares of Invesco QQQ by 8.0% during the 4th quarter. Sovran Advisors LLC now owns 18,032 shares of the exchange traded fund's stock worth $11,212,000 after acquiring an additional 1,340 shares in the last quarter. Finally, Corepath Wealth Partners LLC raised its position in shares of Invesco QQQ by 19.7% during the 4th quarter. Corepath Wealth Partners LLC now owns 8,723 shares of the exchange traded fund's stock worth $5,471,000 after acquiring an additional 1,436 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: Several pieces pointed to QQQ as a favored way to buy the recent tech pullback, including coverage describing it as a top ETF to load up on during the sell-off and highlighting continued investor demand for Nasdaq-100 exposure. Article Title
• Positive Sentiment: Market chatter around strong Nasdaq-100 trading activity and bullish positioning suggests some investors are still betting on a rebound in large-cap growth and AI-related stocks, which can support QQQ. Article Title
• Neutral Sentiment: BlackRock launched a competing Nasdaq-100 ETF, IQQ, which may increase competition in the category, but it also reinforces continued interest in Nasdaq-100 index products overall. Article Title
• Neutral Sentiment: Other articles focused on macro themes such as inflation, Fed policy, geopolitical tensions, and labor data; these can move QQQ through risk appetite, but they do not directly change the ETF’s fundamentals. Article Title
• Negative Sentiment: Several commentary pieces warned that higher inflation, a hawkish Fed, and geopolitical stress could pressure growth stocks and reduce appetite for Nasdaq-heavy exposure, which is a headwind for QQQ. Article Title

Invesco QQQ Price Performance

QQQ stock traded up $2.23 during trading on Friday, hitting $725.51. 26,367,856 shares of the company's stock were exchanged, compared to its average volume of 40,630,508. The business has a 50-day moving average price of $718.41 and a two-hundred day moving average price of $650.06. Invesco QQQ has a 52-week low of $551.56 and a 52-week high of $748.65.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 22nd were given a $0.8135 dividend. This is a positive change 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 dividend yield of 0.4%.

About Invesco QQQ

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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