Invesco QQQ $QQQ Shares Purchased by Ascentis Wealth Management LLC

Key Points

• Ascentis Wealth Management significantly increased its QQQ position by 13,368.7% in the second quarter, ending with 35,288 shares valued at approximately $26.0 million. QQQ now represents about 1.5% of the firm’s portfolio.
• QQQ opened at $713.44, compared with a 52-week range of $555.60 to $748.65, while its 50-day and 200-day moving averages stood at $713.76 and $668.31, respectively.
• Invesco QQQ raised its quarterly dividend to $0.8135, up from $0.73, implying an annualized payout of roughly $3.25 and a 0.5% yield. The ETF tracks the Nasdaq-100 and remains heavily exposed to large technology companies.

Ascentis Wealth Management LLC boosted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 13,368.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,288 shares of the exchange traded fund's stock after purchasing an additional 35,026 shares during the quarter. Invesco QQQ comprises approximately 1.5% of Ascentis Wealth Management LLC's investment portfolio, making the stock its 12th largest position. Ascentis Wealth Management LLC's holdings in Invesco QQQ were worth $25,986,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Invesco QQQ in the 4th quarter worth approximately $25,000. Shcp LLC acquired a new stake in shares of Invesco QQQ in the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Invesco QQQ by 2,150.0% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund's stock valued at $28,000 after purchasing an additional 43 shares during the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Invesco QQQ in the first quarter valued at approximately $28,000. Finally, Rachor Investment Advisory Services LLC purchased a new position in Invesco QQQ during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Key Invesco QQQ News

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

• Positive Sentiment: U.S. equities and exchange-traded funds advanced after midday, providing a favorable backdrop for QQQ’s Nasdaq-100 holdings. Exchange-Traded Funds Rise as US Equities Advance After Midday
• Positive Sentiment: An analysis describing a relatively inexpensive way to own artificial-intelligence exposure may reinforce demand for established technology companies represented heavily in QQQ. The Boring Way To Own AI Is Now The Cheap Way
• Positive Sentiment: Technical market commentary identified key support and resistance levels for QQQ and major holdings including Apple, Microsoft, Nvidia, Alphabet, Meta and Tesla, potentially encouraging dip-buying if support holds. How To Trade SPY, QQQ And 6 Mega Caps
• Neutral Sentiment: Market coverage said stocks were attempting to rebound while yields moved higher, leaving QQQ caught between improving risk appetite and pressure from higher borrowing costs. Markets Try To Bounce Back As Yields Head Higher
• Neutral Sentiment: Debate over Treasury policy, inflation, monetary support and U.S. market leadership is adding uncertainty to the interest-rate outlook, an important driver of growth-stock valuations. War, Inflation, And The Battle For Market Leadership
• Negative Sentiment: Credit-market risks may be underappreciated by AI-focused stocks, raising concerns about concentrated valuations and potential volatility among QQQ’s technology holdings. AI Stocks May Be Ignoring A Growing Risk Seen In Credit Markets
• Negative Sentiment: A hawkish interpretation of Federal Reserve minutes and the recent bond selloff could keep interest rates elevated, which generally weighs on high-growth technology stocks. Fed Minutes Lean Hawkish, But We Don't Expect A Hike

Invesco QQQ Price Performance

Shares of QQQ opened at $713.44 on Monday. Invesco QQQ has a 52-week low of $555.60 and a 52-week high of $748.65. The stock has a fifty day simple moving average of $713.76 and a two-hundred day simple moving average of $668.31.

Invesco QQQ Increases Dividend

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

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.

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