Invesco QQQ $QQQ Stock Position Trimmed by Arcus Capital Partners LLC

Key Points

• Arcus Capital Partners reduced its Invesco QQQ stake by 38.1% in the first quarter, selling 7,676 shares and leaving it with 12,467 shares valued at about $7.2 million.
• Despite the trim, QQQ remains a meaningful holding for Arcus, representing about 2.6% of its portfolio and its 8th largest position.
• Invesco QQQ recently raised its quarterly dividend to $0.8135 per share from $0.73, while the ETF's shares were trading at $695.33 with institutional investors owning 44.58% of the stock.

Arcus Capital Partners LLC cut its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 38.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,467 shares of the exchange traded fund's stock after selling 7,676 shares during the period. Invesco QQQ comprises approximately 2.6% of Arcus Capital Partners LLC's portfolio, making the stock its 8th largest position. Arcus Capital Partners LLC's holdings in Invesco QQQ were worth $7,196,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in QQQ. Brighton Jones LLC increased its position in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after purchasing an additional 4,989 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after buying an additional 176 shares during the period. Jupiter Wealth Management LLC bought a new stake in Invesco QQQ during the 2nd quarter valued at approximately $290,000. Wealth Group Ltd. boosted its position in Invesco QQQ by 283.7% during the 2nd quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund's stock valued at $13,587,000 after acquiring an additional 18,210 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Invesco QQQ by 1,057.3% during the 2nd quarter. Invesco Ltd. now owns 33,063 shares of the exchange traded fund's stock worth $18,239,000 after acquiring an additional 30,206 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $695.33 on Friday. Invesco QQQ has a 52-week low of $551.68 and a 52-week high of $748.65. The stock has a 50 day moving average price of $720.41 and a 200-day moving average price of $653.13.

Invesco QQQ Increases Dividend

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

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: Apple is outperforming and hitting fresh records, which helps support QQQ because AAPL is one of its largest holdings. AAPL Stock Hits Fresh Record As July Rally Nears Best Month In Nearly 4 Years — HSBC Sees Another 10% Upside
• Neutral Sentiment: New ETF launches and commentary continue to highlight investor interest in Nasdaq and tech income strategies, but these are not strong enough to move QQQ on their own. Meet TMGN, the 0.88 Fee ETF Betting on Tech Giants and Options Income
• Neutral Sentiment: Broad-market ETFs and U.S. equities were mixed to lower intraday, suggesting overall risk appetite has softened. Exchange-Traded Funds Fall as US Equities Decline After Midday
• Negative Sentiment: Chip stocks are under pressure on TSMC capex concerns, hurting the semiconductor-heavy portion of the Nasdaq-100 and weighing on QQQ. S&P 500, Nasdaq, Dow End Lower As Chip Stocks Slide On TSMC Capex Concerns — TSM, MU, NVDA, UNH, GOOGL In Focus
• Negative Sentiment: Tech and momentum stocks are seeing some of the highest volatility in decades, adding to pressure on the Nasdaq-100 and QQQ. The Tech Shakeout: Market Extremes & Gavin Baker's Bold Call

About Invesco QQQ

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.