Invesco QQQ $QQQ Shares Sold by Penobscot Investment Management Company Inc.

Key Points

• Penobscot Investment Management reduced its QQQ position by 5.3% in the third quarter, selling 1,950 shares and retaining 35,059 shares valued at approximately $25.9 million.
• Other institutional investors largely increased their QQQ holdings, while institutional ownership reached 44.58% of the fund.
• QQQ shares opened at $725.61, near their 50-day average, while the quarterly dividend fell to $0.7514 from $0.8135, implying an annualized yield of about 0.4%.

Penobscot Investment Management Company Inc. decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,059 shares of the exchange traded fund's stock after selling 1,950 shares during the quarter. Invesco QQQ comprises approximately 1.8% of Penobscot Investment Management Company Inc.'s investment portfolio, making the stock its 10th biggest holding. Penobscot Investment Management Company Inc.'s holdings in Invesco QQQ were worth $25,936,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in QQQ. Envestnet Asset Management Inc. increased its holdings in Invesco QQQ by 1.0% in the second quarter. Envestnet Asset Management Inc. now owns 3,038,610 shares of the exchange traded fund's stock valued at $2,237,606,000 after purchasing an additional 30,083 shares during the last quarter. Analyst IMS Investment Management Services Ltd. increased its position in shares of Invesco QQQ by 0.3% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,787,559 shares of the exchange traded fund's stock valued at $1,316,358,000 after buying an additional 4,751 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Invesco QQQ by 3.1% in the 2nd quarter. HighTower Advisors LLC now owns 1,230,679 shares of the exchange traded fund's stock valued at $906,272,000 after buying an additional 36,923 shares in the last quarter. GoalVest Advisory LLC increased its position in shares of Invesco QQQ by 20,256.6% in the 3rd quarter. GoalVest Advisory LLC now owns 613,955 shares of the exchange traded fund's stock valued at $454,185,000 after buying an additional 610,939 shares in the last quarter. Finally, Corient Private Wealth LP raised its stake in Invesco QQQ by 506.8% during the 2nd quarter. Corient Private Wealth LP now owns 545,270 shares of the exchange traded fund's stock worth $401,553,000 after buying an additional 455,412 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.6%

Shares of Invesco QQQ stock opened at $725.61 on Thursday. Invesco QQQ has a 12 month low of $555.60 and a 12 month high of $762.86. The stock's fifty day simple moving average is $725.42 and its 200 day simple moving average is $678.25.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Monday, September 21st were paid a $0.7514 dividend. The ex-dividend date of this dividend was Monday, September 21st. This is a negative change from Invesco QQQ's previous quarterly dividend of $0.8135. This represents a $3.01 dividend on an annualized basis and a yield of 0.4%.

Invesco QQQ News Roundup

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

• Positive Sentiment: QQQ benefited from a second consecutive advance in the Nasdaq, supported by continued enthusiasm for technology and artificial-intelligence stocks. Nasdaq Advances For Second Straight Day
• Positive Sentiment: Anthropic-related optimism provided a lift for the broader technology sector, reinforcing demand for QQQ’s large-cap technology holdings. Anthropic Gives The Tech Sector A Much-Needed Lift
• Positive Sentiment: QQQ added NVIDIA and Apple shares in a recent portfolio update, increasing exposure to two major artificial-intelligence and technology leaders. INVESCO QQQ Adds NVIDIA and Apple
• Neutral Sentiment: QQQ sold approximately $359.1 million of NVIDIA shares on October 26. The transaction may reflect routine index rebalancing or position management rather than a change in the fund’s long-term outlook. Invesco QQQ Sells NVIDIA
• Neutral Sentiment: Market leadership was mixed, with some broad equity ETFs rising while others declined, suggesting investors remain selective ahead of the Fed announcement. Exchange-Traded Funds, US Equities Mixed After Midday
• Negative Sentiment: Rising Treasury yields, persistent inflation concerns, deficit spending and heavy AI-related borrowing could compress the elevated valuations of QQQ’s growth-oriented holdings. QQQ market information
• Negative Sentiment: Uncertainty surrounding the Fed’s rate decision and comments from policymakers is encouraging caution, while strong economic growth could make near-term rate cuts less likely. Will Robust Q3 GDP Growth Complicate The Inflation Outlook?

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.