Modern Wealth Management LLC Sells 62,738 Shares of Invesco QQQ $QQQ

Key Points

• Modern Wealth Management LLC cut its stake in Invesco QQQ by 33.1% in the first quarter, selling 62,738 shares and leaving it with 126,602 shares valued at about $73.98 million.
• The ETF remains widely held by institutions, with 44.58% of shares owned by institutional investors, while several other firms recently opened small new positions in QQQ.
• QQQ recently traded at $691.96 and paid a higher quarterly dividend of $0.8135, up from $0.73 previously, reflecting a modest annualized yield of about 0.5%.

Modern Wealth Management LLC decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 33.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,602 shares of the exchange traded fund's stock after selling 62,738 shares during the quarter. Invesco QQQ comprises approximately 1.3% of Modern Wealth Management LLC's investment portfolio, making the stock its 15th biggest holding. Modern Wealth Management LLC's holdings in Invesco QQQ were worth $73,975,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Invesco QQQ in the 4th quarter worth $25,000. Shcp LLC bought a new stake in Invesco QQQ in the third quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Invesco QQQ by 2,150.0% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund's stock valued at $28,000 after purchasing an additional 43 shares during the last quarter. Rachor Investment Advisory Services LLC acquired a new position in Invesco QQQ in the fourth quarter valued at about $29,000. Finally, Islay Capital Management LLC acquired a new position in Invesco QQQ in the fourth quarter valued at about $32,000. 44.58% of the stock is owned by institutional investors.

More Invesco QQQ News

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

• Positive Sentiment: Some commentary remains constructive on the market’s earnings backdrop, with articles noting that earnings growth is still broadening and that large-cap technology fundamentals remain a key driver for index performance.
• Neutral Sentiment: Several pieces focus on QQQ’s long-term track record and comparisons with other funds, but they are more informational than market-moving for the ETF itself. Article Title
• Neutral Sentiment: Analysts and market writers are also debating whether the market is overvalued and whether equity rotation is accelerating, which may add to volatility in growth-heavy ETFs like QQQ.
• Negative Sentiment: Broad-market ETFs and U.S. equities moved lower during the session, and live market coverage pointed to the Dow falling as investors sold stocks ahead of key earnings reports, a backdrop that can weigh on QQQ. Article Title
• Negative Sentiment: Reports that Alphabet and Tesla sold off on earnings news are particularly relevant because both are major components of QQQ, raising concern that heavyweight tech earnings could drag the ETF lower. Article Title

Invesco QQQ Stock Performance

Shares of QQQ opened at $691.96 on Friday. Invesco QQQ has a 1 year low of $551.68 and a 1 year high of $748.65. The stock's 50-day moving average price is $719.36 and its two-hundred day moving average price is $655.76.

Invesco QQQ Increases Dividend

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

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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