Invesco QQQ $QQQ Shares Sold by Private Advisory Group LLC

Key Points

• Private Advisory Group cut its Invesco QQQ position by 40.8% in the third quarter, selling 30,290 shares and retaining 43,982 shares valued at about $32.5 million.
• Other institutions made mixed moves, with several increasing holdings; hedge funds and other institutional investors collectively owned 44.58% of QQQ.
• QQQ opened at $688.17, down 0.3% in the article’s report. Its quarterly dividend fell from $0.8135 to $0.7514 per share.

Private Advisory Group LLC reduced its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 40.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,982 shares of the exchange traded fund's stock after selling 30,290 shares during the period. Invesco QQQ comprises about 1.7% of Private Advisory Group LLC's holdings, making the stock its 11th largest holding. Private Advisory Group LLC's holdings in Invesco QQQ were worth $32,536,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Legacy Trust boosted its holdings in shares of Invesco QQQ by 4.9% during the third quarter. Legacy Trust now owns 1,355 shares of the exchange traded fund's stock worth $936,000 after purchasing an additional 63 shares during the period. Russell Investments Group Ltd. grew its position in Invesco QQQ by 9.0% during the third quarter. Russell Investments Group Ltd. now owns 160,236 shares of the exchange traded fund's stock valued at $118,537,000 after purchasing an additional 13,249 shares in the last quarter. Merrithew & Thorsten Inc grew its position in Invesco QQQ by 2.9% during the third quarter. Merrithew & Thorsten Inc now owns 28,956 shares of the exchange traded fund's stock valued at $21,421,000 after purchasing an additional 814 shares in the last quarter. ODonnell Financial Services LLC grew its position in Invesco QQQ by 0.9% during the third quarter. ODonnell Financial Services LLC now owns 1,810 shares of the exchange traded fund's stock valued at $1,339,000 after purchasing an additional 17 shares in the last quarter. Finally, Everest Financial Group LLC increased its stake in Invesco QQQ by 25.3% in the 3rd quarter. Everest Financial Group LLC now owns 1,758 shares of the exchange traded fund's stock valued at $1,301,000 after buying an additional 355 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.3%

Invesco QQQ stock opened at $688.17 on Friday. Invesco QQQ has a twelve month low of $555.60 and a twelve month high of $762.86. The firm's 50 day moving average price is $718.62 and its two-hundred day moving average price is $681.57.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Monday, September 21st were issued a dividend of $0.7514 per share. The ex-dividend date was Monday, September 21st. This represents a $3.01 annualized dividend and a dividend yield of 0.4%. This is a decrease from Invesco QQQ's previous quarterly dividend of $0.8135.

Invesco QQQ News Summary

These are some of the QQQ news items that stood out recently:

• Positive Sentiment: Some commentary argues the AI rally may be back on track, and CoreWeave’s earnings reportedly eased concerns about AI spending. That may support QQQ’s large technology and AI-related holdings. 5 Bullish Signs the AI Rally is Back on Track
• Neutral Sentiment: QQQ was described as relatively resilient amid Nvidia-related selling. Its diversified Nasdaq-100 exposure can cushion the impact of weakness in an individual holding, though Nvidia remains influential. Invesco QQQ Trust ETF Resists Pressure as Nvidia’s CEO Resigns
• Negative Sentiment: Hot inflation and the possibility of tighter Federal Reserve policy could pressure growth-stock valuations, a risk for QQQ’s technology-heavy portfolio. CPI Pushes Rate Hike Odds to About 100%

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.

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.