Kestra Private Wealth Services LLC Trims Stake in Invesco QQQ $QQQ

Key Points

• Kestra Private Wealth Services cut its Invesco QQQ stake by 3% in the second quarter, selling 5,321 shares and retaining 172,540 shares valued at approximately $127.1 million.
• Other institutional investors made mixed moves, including new purchases and significant stake increases; hedge funds and other institutions collectively own 44.58% of QQQ.
• QQQ recently traded near $713, below its 12-month high of $748.65, while its quarterly dividend increased to $0.8135, or about $3.25 annualized, for a 0.5% yield.

Kestra Private Wealth Services LLC lessened its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,540 shares of the exchange traded fund's stock after selling 5,321 shares during the quarter. Invesco QQQ accounts for 1.4% of Kestra Private Wealth Services LLC's portfolio, making the stock its 11th largest position. Kestra Private Wealth Services LLC's holdings in Invesco QQQ were worth $127,058,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Carrera Capital Advisors grew its stake in Invesco QQQ by 99.3% in the fourth quarter. Carrera Capital Advisors now owns 2,316 shares of the exchange traded fund's stock worth $1,423,000 after purchasing an additional 1,154 shares in the last quarter. Flatrock Wealth Partners LLC bought a new stake in Invesco QQQ during the 1st quarter valued at $924,000. Hegarty Advisors LLC bought a new stake in Invesco QQQ during the 1st quarter valued at $2,212,000. Ascension Capital Advisors Inc. lifted its holdings in shares of Invesco QQQ by 643.8% in the 1st quarter. Ascension Capital Advisors Inc. now owns 3,094 shares of the exchange traded fund's stock worth $1,786,000 after buying an additional 2,678 shares during the period. Finally, Asset Allocation Strategies LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter worth $18,142,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ opened at $713.44 on Monday. Invesco QQQ has a 12-month low of $555.60 and a 12-month high of $748.65. The business's fifty day simple moving average is $713.76 and its 200-day simple moving average is $668.31.

Invesco QQQ Increases Dividend

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

Key Invesco QQQ News

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

• Positive Sentiment: U.S. equities and exchange-traded funds advanced after midday, providing a favorable backdrop for QQQ’s Nasdaq-100 holdings. Exchange-Traded Funds Rise as US Equities Advance After Midday
• Positive Sentiment: An analysis describing a relatively inexpensive way to own artificial-intelligence exposure may reinforce demand for established technology companies represented heavily in QQQ. The Boring Way To Own AI Is Now The Cheap Way
• Positive Sentiment: Technical market commentary identified key support and resistance levels for QQQ and major holdings including Apple, Microsoft, Nvidia, Alphabet, Meta and Tesla, potentially encouraging dip-buying if support holds. How To Trade SPY, QQQ And 6 Mega Caps
• Neutral Sentiment: Market coverage said stocks were attempting to rebound while yields moved higher, leaving QQQ caught between improving risk appetite and pressure from higher borrowing costs. Markets Try To Bounce Back As Yields Head Higher
• Neutral Sentiment: Debate over Treasury policy, inflation, monetary support and U.S. market leadership is adding uncertainty to the interest-rate outlook, an important driver of growth-stock valuations. War, Inflation, And The Battle For Market Leadership
• Negative Sentiment: Credit-market risks may be underappreciated by AI-focused stocks, raising concerns about concentrated valuations and potential volatility among QQQ’s technology holdings. AI Stocks May Be Ignoring A Growing Risk Seen In Credit Markets
• Negative Sentiment: A hawkish interpretation of Federal Reserve minutes and the recent bond selloff could keep interest rates elevated, which generally weighs on high-growth technology stocks. Fed Minutes Lean Hawkish, But We Don't Expect A Hike

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.

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