Invesco QQQ $QQQ Stake Reduced by Worth Asset Management LLC

Key Points

• Worth Asset Management LLC sharply reduced its Invesco QQQ stake by 78.5% in the first quarter, selling 13,285 shares and leaving it with 3,642 shares worth about $2.1 million.
• Despite that cut, institutional ownership remains significant, with 44.58% of QQQ held by institutions. Several other firms recently increased their positions, including Carrera Capital Advisors and Mariner LLC.
• QQQ’s quarterly dividend was raised to $0.8135 per share from $0.73, with payment scheduled for July 10 and an annualized dividend of about $3.25 per share.

Worth Asset Management LLC cut its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 78.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,642 shares of the exchange traded fund's stock after selling 13,285 shares during the period. Invesco QQQ accounts for approximately 0.8% of Worth Asset Management LLC's investment portfolio, making the stock its 29th largest holding. Worth Asset Management LLC's holdings in Invesco QQQ were worth $2,102,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in QQQ. Carrera Capital Advisors raised its stake in shares of Invesco QQQ by 99.3% during the fourth quarter. Carrera Capital Advisors now owns 2,316 shares of the exchange traded fund's stock valued at $1,423,000 after purchasing an additional 1,154 shares in the last quarter. Sovran Advisors LLC grew its position in Invesco QQQ by 8.0% in the 4th quarter. Sovran Advisors LLC now owns 18,032 shares of the exchange traded fund's stock valued at $11,212,000 after buying an additional 1,340 shares in the last quarter. Corepath Wealth Partners LLC grew its position in Invesco QQQ by 19.7% in the 4th quarter. Corepath Wealth Partners LLC now owns 8,723 shares of the exchange traded fund's stock valued at $5,471,000 after buying an additional 1,436 shares in the last quarter. Cane Capital Partners LLC acquired a new position in Invesco QQQ during the 4th quarter valued at about $715,000. Finally, Mariner LLC increased its stake in Invesco QQQ by 2.6% during the 4th quarter. Mariner LLC now owns 1,084,500 shares of the exchange traded fund's stock valued at $666,226,000 after buying an additional 27,560 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $713.65 on Wednesday. Invesco QQQ has a 52 week low of $536.27 and a 52 week high of $748.65. The firm's 50-day moving average is $700.01 and its two-hundred day moving average is $641.09.

Invesco QQQ Increases Dividend

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

Trending Headlines about Invesco QQQ

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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