Invesco QQQ $QQQ Shares Sold by Novare Capital Management LLC

Key Points

• Novare Capital Management LLC cut its Invesco QQQ stake by 14.0% in the first quarter, selling 2,332 shares and leaving it with 14,303 shares valued at about $8.26 million.
• Despite that trim, QQQ remains widely owned by institutions, with hedge funds and other institutional investors holding 44.58% of the fund; several other firms recently increased their positions.
• The ETF was trading down 3.3% at $713.65, while its quarterly dividend was raised to $0.8135 per share, up from $0.73 previously, implying a $3.25 annualized payout.

Novare Capital Management LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 14.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,303 shares of the exchange traded fund's stock after selling 2,332 shares during the quarter. Novare Capital Management LLC's holdings in Invesco QQQ were worth $8,255,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in QQQ. Summit Wealth Partners LLC increased its stake in Invesco QQQ by 1.3% in the 1st quarter. Summit Wealth Partners LLC now owns 34,730 shares of the exchange traded fund's stock valued at $20,046,000 after purchasing an additional 445 shares in the last quarter. Gibson Capital LLC increased its position in Invesco QQQ by 2.4% during the 1st quarter. Gibson Capital LLC now owns 1,051 shares of the exchange traded fund's stock worth $606,000 after purchasing an additional 25 shares in the last quarter. IFC & Insurance Marketing Inc. raised its position in shares of Invesco QQQ by 25.6% in the first quarter. IFC & Insurance Marketing Inc. now owns 1,064 shares of the exchange traded fund's stock valued at $614,000 after buying an additional 217 shares during the last quarter. Birch Financial Group LLC lifted its position in Invesco QQQ by 8.0% during the first quarter. Birch Financial Group LLC now owns 917 shares of the exchange traded fund's stock worth $529,000 after buying an additional 68 shares during the period. Finally, James J. Burns & Company LLC lifted its holdings in shares of Invesco QQQ by 6.2% during the 1st quarter. James J. Burns & Company LLC now owns 857 shares of the exchange traded fund's stock worth $495,000 after acquiring an additional 50 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 3.3%

Shares of QQQ opened at $713.65 on Wednesday. Invesco QQQ has a fifty-two week low of $536.27 and a fifty-two week high of $748.65. The company's fifty day moving average is $700.01 and its two-hundred day moving average is $641.09.

Invesco QQQ Increases Dividend

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

Invesco QQQ News Roundup

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

• Positive Sentiment: Several market commentators argued the recent selloff in AI and semiconductor stocks looks like profit-taking rather than a broken long-term growth story, which could support QQQ because the ETF is heavily exposed to big-cap tech and AI-related names. Market Strategist Says AI Selloff Is ‘Just Profit-Taking,' Not a Broken Story
• Positive Sentiment: Commentary suggesting Wall Street’s summer slump may be short-lived points to continued resilience in broad growth stocks, which is constructive for QQQ. Why Wall Street's Summer Slump Will Be Short-Lived
• Positive Sentiment: Analysts also pointed to strong earnings growth and a solid GDP nowcast as reasons the broader market backdrop remains favorable, which can help an ETF concentrated in large U.S. growth stocks. Nothing Stands In The Way Of Earnings Growth Q2 GDP Nowcast Steady At 2.5% As U.S.-Iran Talks Progress
• Neutral Sentiment: Articles about the Nasdaq-100 rebalance and SpaceX’s addition were mostly about index mechanics, but they matter to QQQ because the fund must track the benchmark’s holdings changes. The Qs Shift Gears: Nasdaq 100 Rebalances While SpaceX Looms SpaceX Joins the Russell 1000: What This Friday's Historic Index Rebalancing Means for Your ETF
• Neutral Sentiment: ETF comparison pieces on QQQ versus QQQM and on leveraged ProShares UltraPro QQQ were educational rather than direct catalysts, and they mainly highlighted structure, fees, and long-term performance differences. QQQ vs QQQM: Same Nasdaq-100 Index, One Clear Winner for Long-Term Investors ProShares UltraPro QQQ Charges 0.82% Annually, but the Real Cost Compounds Every Trading Day
• Negative Sentiment: Some commentary warned that hot inflation data and a hawkish Fed could weigh on growth stocks and tech multiples, which is a headwind for QQQ. Thursday's Hot Inflation Print Could Scare A Lot Of People Into The Wrong Trade The Fed Needs To Hike Interest Rates The Technical Backdrop: When Flows Meet A Hawkish Fed
• Negative Sentiment: Bearish takes arguing that QQQ’s AI-driven business model is weakening and that the AI bubble could be larger than the dot-com bust may add pressure by souring sentiment around mega-cap tech. QQQ: The AI Business Model Is Likely Collapsing Why The AI Bubble May Dwarf The Dot-Com Bust

Invesco QQQ 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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