Midwest Trust Co Boosts Stock Position in Invesco QQQ $QQQ

Key Points

• Midwest Trust Co increased its stake in Invesco QQQ by 46.6% in the first quarter, buying 6,779 additional shares to bring its total to 21,339 shares worth about $12.3 million.
• Other institutions also made notable moves in QQQ, with several funds adding positions while hedge funds and other institutional investors now own 44.58% of the ETF.
• QQQ continues to attract attention amid a tech pullback, with recent commentary portraying it as a favored way to gain Nasdaq-100 exposure, even as higher inflation, a hawkish Fed, and geopolitical concerns could weigh on growth stocks.

Midwest Trust Co lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 46.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,339 shares of the exchange traded fund's stock after acquiring an additional 6,779 shares during the quarter. Midwest Trust Co's holdings in Invesco QQQ were worth $12,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carrera Capital Advisors increased its holdings in shares of Invesco QQQ by 99.3% in 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 during the last quarter. Flatrock Wealth Partners LLC purchased a new position in Invesco QQQ in the 1st quarter valued at approximately $924,000. Hegarty Advisors LLC purchased a new position in Invesco QQQ in the first quarter valued at $2,212,000. Sovran Advisors LLC increased its stake in shares of Invesco QQQ by 8.0% during the fourth quarter. Sovran Advisors LLC now owns 18,032 shares of the exchange traded fund's stock worth $11,212,000 after buying an additional 1,340 shares during the period. Finally, Corepath Wealth Partners LLC raised its holdings in shares of 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 purchasing an additional 1,436 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Key Invesco QQQ News

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

• Positive Sentiment: Several pieces pointed to QQQ as a favored way to buy the recent tech pullback, including coverage describing it as a top ETF to load up on during the sell-off and highlighting continued investor demand for Nasdaq-100 exposure. Article Title
• Positive Sentiment: Market chatter around strong Nasdaq-100 trading activity and bullish positioning suggests some investors are still betting on a rebound in large-cap growth and AI-related stocks, which can support QQQ. Article Title
• Neutral Sentiment: BlackRock launched a competing Nasdaq-100 ETF, IQQ, which may increase competition in the category, but it also reinforces continued interest in Nasdaq-100 index products overall. Article Title
• Neutral Sentiment: Other articles focused on macro themes such as inflation, Fed policy, geopolitical tensions, and labor data; these can move QQQ through risk appetite, but they do not directly change the ETF’s fundamentals. Article Title
• Negative Sentiment: Several commentary pieces warned that higher inflation, a hawkish Fed, and geopolitical stress could pressure growth stocks and reduce appetite for Nasdaq-heavy exposure, which is a headwind for QQQ. Article Title

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $725.51 on Monday. Invesco QQQ has a 1 year low of $551.56 and a 1 year high of $748.65. The business has a 50-day moving average of $718.41 and a two-hundred day moving average of $650.28.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.8135 per share. 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 0.4%.

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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