Invesco QQQ $QQQ Shares Purchased by Virginia Estate & Retirement Planning Advisors Inc.

Key Points

• Virginia Estate & Retirement Planning Advisors increased its Invesco QQQ position by 2,968.8% in the second quarter, adding 8,194 shares to hold 8,470 shares worth approximately $6.22 million.
• Other institutional investors also added QQQ, with institutions and hedge funds collectively owning 44.58% of the ETF.
• QQQ opened at $713.44, near its 50-day moving average, while its quarterly dividend rose to $0.8135, implying a 0.5% annualized yield. Higher interest rates and credit-market concerns remain potential risks for its technology-heavy holdings.

Virginia Estate & Retirement Planning Advisors Inc. boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2,968.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,470 shares of the exchange traded fund's stock after purchasing an additional 8,194 shares during the period. Invesco QQQ comprises 7.5% of Virginia Estate & Retirement Planning Advisors Inc.'s portfolio, making the stock its 4th biggest holding. Virginia Estate & Retirement Planning Advisors Inc.'s holdings in Invesco QQQ were worth $6,224,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Carrera Capital Advisors grew its holdings in shares of Invesco QQQ by 99.3% in the 4th quarter. Carrera Capital Advisors now owns 2,316 shares of the exchange traded fund's stock worth $1,423,000 after purchasing an additional 1,154 shares during the last quarter. Flatrock Wealth Partners LLC acquired a new stake in shares of Invesco QQQ during the 1st quarter worth about $924,000. Hegarty Advisors LLC bought a new position in Invesco QQQ during the 1st quarter valued at about $2,212,000. Ascension Capital Advisors Inc. lifted its holdings in Invesco QQQ by 643.8% during the 1st quarter. Ascension Capital Advisors Inc. now owns 3,094 shares of the exchange traded fund's stock valued at $1,786,000 after purchasing an additional 2,678 shares during the last quarter. Finally, Asset Allocation Strategies LLC bought a new position in Invesco QQQ during the 1st quarter valued at about $18,142,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Invesco QQQ

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 Stock Performance

NASDAQ:QQQ opened at $713.44 on Friday. Invesco QQQ has a 12 month low of $555.60 and a 12 month high of $748.65. The company's 50-day moving average price is $713.76 and its two-hundred day moving average price is $668.02.

Invesco QQQ Increases Dividend

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

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).

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