KFA Private Wealth Group LLC Has $2.33 Million Stock Position in Invesco QQQ $QQQ

Key Points

• KFA Private Wealth Group increased its Invesco QQQ position by 107.5% in the second quarter, holding 3,169 shares valued at approximately $2.33 million.
• Institutional investors and hedge funds own 44.58% of QQQ, with several major firms significantly increasing their holdings or establishing new positions.
• QQQ shares opened at $713.44, near their $748.65 52-week high, while the fund raised its quarterly dividend to $0.8135, equating to an annualized yield of about 0.5%.

KFA Private Wealth Group LLC grew its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 107.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,169 shares of the exchange traded fund's stock after acquiring an additional 1,642 shares during the quarter. Invesco QQQ accounts for about 0.6% of KFA Private Wealth Group LLC's holdings, making the stock its 18th largest position. KFA Private Wealth Group LLC's holdings in Invesco QQQ were worth $2,334,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Invesco QQQ by 381.0% in the fourth quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund's stock valued at $12,008,257,000 after purchasing an additional 26,505,055 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Invesco QQQ by 3,567.7% during the fourth quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund's stock worth $13,168,912,000 after buying an additional 20,852,432 shares in the last quarter. Delta Global Management LP acquired a new stake in Invesco QQQ during the fourth quarter worth $821,084,000. Align Financial LLC acquired a new stake in Invesco QQQ during the fourth quarter worth $78,118,000. Finally, Bank of Montreal Can increased its holdings in Invesco QQQ by 142.4% in the 4th quarter. Bank of Montreal Can now owns 1,431,050 shares of the exchange traded fund's stock valued at $877,406,000 after buying an additional 840,803 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $713.44 on Friday. Invesco QQQ has a 52-week low of $555.60 and a 52-week high of $748.65. The firm has a fifty day moving average of $713.76 and a 200-day moving average of $668.02.

Invesco QQQ Increases Dividend

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

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).

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