Invesco QQQ $QQQ Shares Bought by Allworth Financial LP

Key Points

• Allworth Financial LP increased its QQQ holdings by 18.3% in the third quarter, adding 51,238 shares to reach 330,688 shares, valued at about $243.5 million.
• Other institutional investors also adjusted or initiated QQQ positions; institutional investors collectively own 44.58% of the fund.
• QQQ’s quarterly dividend fell to $0.7514 per share from $0.8135, equivalent to an annualized $3.01 and a 0.4% yield.

Allworth Financial LP raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 330,688 shares of the exchange traded fund's stock after acquiring an additional 51,238 shares during the quarter. Invesco QQQ comprises approximately 0.9% of Allworth Financial LP's portfolio, making the stock its 20th biggest holding. Allworth Financial LP's holdings in Invesco QQQ were worth $243,518,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in QQQ. Parvin Asset Management LLC bought a new stake in Invesco QQQ during the first quarter valued at approximately $28,000. High Point Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 68.0% during the 2nd quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund's stock worth $31,000 after acquiring an additional 17 shares during the last quarter. Financial Management Professionals Inc. grew its position in Invesco QQQ by 83.3% in the second quarter. Financial Management Professionals Inc. now owns 55 shares of the exchange traded fund's stock worth $41,000 after acquiring an additional 25 shares in the last quarter. CrossGen Wealth LLC increased its stake in Invesco QQQ by 44.7% in the third quarter. CrossGen Wealth LLC now owns 55 shares of the exchange traded fund's stock valued at $41,000 after acquiring an additional 17 shares during the last quarter. Finally, Bullseye Investment Management LLC bought a new position in shares of Invesco QQQ during the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ stock opened at $688.17 on Friday. Invesco QQQ has a one year low of $555.60 and a one year high of $762.86. The company's 50 day moving average price is $718.62 and its two-hundred day moving average price is $681.57.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Monday, September 21st were issued a dividend of $0.7514 per share. The ex-dividend date was Monday, September 21st. This represents a $3.01 annualized dividend and a yield of 0.4%. This is a drop from Invesco QQQ's previous quarterly dividend of $0.8135.

Key Headlines Impacting Invesco QQQ

These are some of the QQQ headlines that stood out recently:

• Neutral Sentiment: QQQ was described as relatively resilient amid Nvidia-related selling. Its diversified Nasdaq-100 exposure can cushion the impact of weakness in an individual holding, though Nvidia remains influential. Invesco QQQ Trust ETF Resists Pressure as Nvidia’s CEO Resigns
• Negative Sentiment: Reports of Nvidia CEO Jensen Huang’s departure triggered a selloff in Nvidia shares, creating a headwind for QQQ because of the fund’s exposure to the chipmaker. Jensen Huang Is Out: Here’s How Much Nvidia’s Selloff Cost a $10,000 QQQ Position
• Negative Sentiment: Hot inflation and the possibility of tighter Federal Reserve policy could pressure growth-stock valuations, a risk for QQQ’s technology-heavy portfolio. CPI Pushes Rate Hike Odds to About 100%

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.

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