Pinnacle Wealth Management Advisory Group LLC Acquires 1,570 Shares of Invesco QQQ $QQQ

Key Points

• Pinnacle Wealth Management Advisory Group LLC increased its Invesco QQQ stake by 2.4% in the second quarter, adding 1,570 shares to reach 67,314 shares valued at approximately $49.57 million.
• Institutional investors own 44.58% of QQQ, while other firms—including High Point Wealth Management—also increased their holdings during the period.
• QQQ opened at $718.36, near its $748.65 one-year high, and recently raised its quarterly dividend to $0.8135, equivalent to an annualized $3.25 payout and a 0.5% yield.

Pinnacle Wealth Management Advisory Group LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,314 shares of the exchange traded fund's stock after purchasing an additional 1,570 shares during the period. Invesco QQQ comprises approximately 3.0% of Pinnacle Wealth Management Advisory Group LLC's investment portfolio, making the stock its 5th biggest position. Pinnacle Wealth Management Advisory Group LLC's holdings in Invesco QQQ were worth $49,570,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Invesco QQQ in the 4th quarter valued at about $25,000. Shcp LLC bought a new position in shares of Invesco QQQ during the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Invesco QQQ by 2,150.0% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund's stock worth $28,000 after acquiring an additional 43 shares during the last quarter. Parvin Asset Management LLC acquired a new position in shares of Invesco QQQ in the first quarter worth approximately $28,000. Finally, High Point Wealth Management LLC lifted its stake in shares of Invesco QQQ by 68.0% in the second quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund's stock worth $31,000 after acquiring an additional 17 shares during the period. 44.58% of the stock is owned by institutional investors.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: QQQ continues to benefit from the strong performance of high-growth technology companies. A recent review noted that the ETF would have grown an investment roughly sixfold over the past decade, reinforcing investor interest in its Nasdaq-100 exposure. This ETF Would Have Increased Your Investment by 6x Over the Past 10 Years
• Positive Sentiment: Expectations that the Federal Reserve will not raise interest rates in the near term are supportive for growth stocks, whose valuations are especially sensitive to borrowing costs. There Will Be No Fed Rate Hikes
• Positive Sentiment: QQQ’s fee structure has reportedly improved after a structural change, potentially making the fund more competitive with lower-cost alternatives and helping retain long-term investors. QQQ Charged 0.20% for Years
• Neutral Sentiment: Investors are comparing QQQ with Invesco QQQM, which tracks the same Nasdaq-100 holdings but generally emphasizes lower costs. The comparison could encourage cost-conscious investors to favor QQQM, even though both funds provide similar underlying exposure. QQQ vs QQQM
• Negative Sentiment: Higher oil prices and concerns about inflation could pressure equities by keeping interest rates elevated. Upcoming CPI data is viewed as particularly important for determining the market’s next direction. Markets Move To The Downside Amid Uptick In Oil Prices
• Negative Sentiment: Articles warning of increased sell-off risk, stretched valuations and a potential AI bubble are a headwind for QQQ because technology and AI leaders represent a large share of the ETF. Risks Increased For A Stock Market Sell-Off

Invesco QQQ Trading Down 0.1%

Shares of QQQ stock opened at $718.36 on Wednesday. The business's 50 day simple moving average is $710.79 and its 200 day simple moving average is $677.43. Invesco QQQ has a one year low of $555.60 and a one year high of $748.65.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were given a $0.8135 dividend. This is an increase from Invesco QQQ's previous quarterly dividend of $0.73. 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%.

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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