Mirae Asset Global Investments Co. Ltd. Increases Holdings in Invesco QQQ $QQQ

Key Points

• Mirae Asset Global Investments increased its Invesco QQQ stake by 35.4% in the second quarter, adding 41,903 shares to reach 160,415 shares valued at approximately $118.1 million. Hedge funds and institutional investors collectively own 44.58% of QQQ.
• QQQ opened at $731.07, near its 52-week high of $748.65, while the fund raised its quarterly dividend to $0.8135 per share, equivalent to a 0.4% annualized yield.
• Cooling inflation and reduced expectations for further Federal Reserve rate hikes could support QQQ’s growth-focused holdings, but elevated valuations, credit-market concerns, geopolitical risks and bearish bets from investors such as Michael Burry point to potential volatility.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 35.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,415 shares of the exchange traded fund's stock after acquiring an additional 41,903 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Invesco QQQ were worth $118,130,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QQQ. Carrera Capital Advisors grew 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 buying an additional 1,154 shares during the last quarter. Flatrock Wealth Partners LLC purchased a new stake in shares of Invesco QQQ in the first quarter worth approximately $924,000. Hegarty Advisors LLC bought a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $2,212,000. Ascension Capital Advisors Inc. lifted its stake in shares of Invesco QQQ by 643.8% during the 1st quarter. Ascension Capital Advisors Inc. now owns 3,094 shares of the exchange traded fund's stock worth $1,786,000 after acquiring an additional 2,678 shares during the last quarter. Finally, Asset Allocation Strategies LLC purchased a new position in Invesco QQQ during the 1st quarter valued at $18,142,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

More Invesco QQQ News

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

• Positive Sentiment: Cooling inflation and weaker labor-market data have reduced expectations for additional Federal Reserve rate hikes. Lower-rate expectations generally support QQQ’s technology and other growth-oriented holdings by improving the outlook for future earnings valuations. However, geopolitical risks around the Strait of Hormuz could keep oil prices and inflation volatile. Cooling Inflation Likely to Aid These ETF Areas
• Positive Sentiment: Exchange-traded funds were broadly higher before Friday’s opening, with investors awaiting retail-sales data. A constructive broader-market tone provided some support for QQQ, although mixed equity futures limited the follow-through. Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Friday Amid Retail Sales Data
• Positive Sentiment: Potential large technology IPOs, including Anthropic, could add another high-profile growth company to the Nasdaq ecosystem and potentially reinforce investor interest in technology-focused funds. Any direct benefit to QQQ would depend on the company’s eventual listing and index eligibility. Millions of 401(k) Holders Could Be Forced to Buy Anthropic Stock
• Neutral Sentiment: Investor sentiment is mixed: cooling inflation supports equities, but a historically elevated CAPE ratio and concerns about credit-market stress suggest that QQQ’s strong rally has left it vulnerable to volatility and profit-taking. What An All-Time High CAPE Ratio Implies for Investors
• Negative Sentiment: Investor Michael Burry has increased his bearish position against the QQQ ETF despite losses. The trade does not change the fund’s holdings, but it highlights skepticism about elevated technology valuations and may weigh on sentiment. Michael Burry Ramped Up His Bets Against Micron and the QQQ ETF

Invesco QQQ Stock Down 0.1%

Shares of Invesco QQQ stock opened at $731.07 on Friday. The stock's fifty day moving average is $713.13 and its two-hundred day moving average is $664.89. Invesco QQQ has a 52 week low of $555.60 and a 52 week high of $748.65.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were given a dividend of $0.8135 per share. This represents a $3.25 annualized dividend and a dividend yield of 0.4%. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.73. The ex-dividend date was Monday, June 22nd.

Invesco QQQ Company 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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