Invesco QQQ $QQQ Shares Sold by Keebeck Wealth Management

Key Points

• Keebeck Wealth Management cut its Invesco QQQ stake by 24.4% in the first quarter, selling 1,656 shares and leaving it with 5,126 shares worth about $2.96 million.
• Other institutional investors also adjusted positions in QQQ, and hedge funds and other institutions now own 44.58% of the ETF.
• QQQ recently traded at $691.96 and paid a higher quarterly dividend of $0.8135 per share, up from $0.73, for an annualized yield of about 0.5%.

Keebeck Wealth Management decreased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 24.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,126 shares of the exchange traded fund's stock after selling 1,656 shares during the period. Keebeck Wealth Management's holdings in Invesco QQQ were worth $2,959,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of QQQ. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Invesco QQQ in the fourth quarter valued at $25,000. Shcp LLC purchased a new stake in Invesco QQQ during the 3rd quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in Invesco QQQ by 2,150.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund's stock worth $28,000 after buying an additional 43 shares during the period. Rachor Investment Advisory Services LLC acquired a new position in Invesco QQQ in the 4th quarter worth $29,000. Finally, Islay Capital Management LLC acquired a new position in Invesco QQQ in the 4th quarter worth $32,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $691.96 on Friday. The firm has a 50-day moving average of $719.36 and a two-hundred day moving average of $655.76. Invesco QQQ has a 1-year low of $551.68 and a 1-year high of $748.65.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were paid a dividend of $0.8135 per share. This is a boost 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 Summary

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

• Positive Sentiment: Some commentary remains constructive on the market’s earnings backdrop, with articles noting that earnings growth is still broadening and that large-cap technology fundamentals remain a key driver for index performance.
• Neutral Sentiment: Several pieces focus on QQQ’s long-term track record and comparisons with other funds, but they are more informational than market-moving for the ETF itself. Article Title
• Neutral Sentiment: Analysts and market writers are also debating whether the market is overvalued and whether equity rotation is accelerating, which may add to volatility in growth-heavy ETFs like QQQ.
• Negative Sentiment: Broad-market ETFs and U.S. equities moved lower during the session, and live market coverage pointed to the Dow falling as investors sold stocks ahead of key earnings reports, a backdrop that can weigh on QQQ. Article Title
• Negative Sentiment: Reports that Alphabet and Tesla sold off on earnings news are particularly relevant because both are major components of QQQ, raising concern that heavyweight tech earnings could drag the ETF lower. Article Title

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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