Platt Investment Counsel LLC Sells 6,685 Shares of Invesco QQQ $QQQ

Key Points

• Platt Investment Counsel reduced its Invesco QQQ position by 18.3%, selling 6,685 shares and retaining 29,938 shares valued at approximately $22.1 million. QQQ remains the firm’s second-largest holding, representing 15.2% of its portfolio.
• QQQ has benefited from strong Nasdaq-100 and technology-stock performance, gaining more than 23% year to date; however, elevated valuations, market concentration, AI-bubble concerns, and interest-rate uncertainty pose risks.
• Invesco QQQ declared a quarterly dividend of $0.7514, down from $0.8135 previously, equating to an annualized dividend of about $3.01 and a 0.4% yield.

Platt Investment Counsel LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,938 shares of the exchange traded fund's stock after selling 6,685 shares during the quarter. Invesco QQQ accounts for approximately 15.2% of Platt Investment Counsel LLC's investment portfolio, making the stock its 2nd biggest holding. Platt Investment Counsel LLC's holdings in Invesco QQQ were worth $22,147,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Corient Private Wealth LLC lifted its holdings in shares of Invesco QQQ by 3,567.7% in the fourth quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund's stock valued at $13,168,912,000 after purchasing an additional 20,852,432 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Invesco QQQ by 1.0% during the second quarter. Envestnet Asset Management Inc. now owns 3,038,610 shares of the exchange traded fund's stock worth $2,237,606,000 after buying an additional 30,083 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Invesco QQQ by 21.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,025,000 shares of the exchange traded fund's stock valued at $1,858,288,000 after buying an additional 534,000 shares during the last quarter. Analyst IMS Investment Management Services Ltd. raised its position in Invesco QQQ by 0.3% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,787,559 shares of the exchange traded fund's stock valued at $1,316,358,000 after buying an additional 4,751 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in Invesco QQQ by 3.1% during the 2nd quarter. HighTower Advisors LLC now owns 1,230,679 shares of the exchange traded fund's stock valued at $906,272,000 after acquiring an additional 36,923 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ News Roundup

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

• Positive Sentiment: QQQ’s underlying Nasdaq-100 remains a strong performer, having gained more than 23% year to date. The fund has benefited from continued leadership by major technology and artificial-intelligence companies, as well as a broader technology-stock rally earlier in the week. Invesco QQQ Trust ETF Is Up 23% YTD: What’s Driving It Higher
• Positive Sentiment: Economic commentary suggesting that a U.S. recession is not imminent could support corporate earnings and risk appetite, benefiting the growth-oriented companies that dominate QQQ. A U.S. Recession Still Isn’t Imminent
• Neutral Sentiment: QQQ’s five-year outperformance versus ARKK highlights the Nasdaq-100’s relative strength, although the comparison also underscores how heavily returns have depended on a small group of large technology companies. Cathie Wood Responds to QQQ and ARKK Performance Comparison
• Negative Sentiment: Broad-market ETFs and equity futures moved lower as traders awaited the Fed’s meeting minutes. Any indication that policymakers intend to keep rates elevated could pressure QQQ’s long-duration growth and technology holdings. Exchange-Traded Funds and Equity Futures Down Pre-Bell
• Negative Sentiment: The Nasdaq’s record levels, market concentration, and concerns about a potential artificial-intelligence bubble have increased valuation and profit-taking risks for QQQ’s heavily weighted technology holdings. Exchange-Traded Funds Lower as U.S. Equities Decline
• Negative Sentiment: Weak September employment data and uncertainty over inflation and monetary policy add to concerns about the economic backdrop, contributing to a more cautious tone for risk assets. Employment Report: 29K Jobs Added in September

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $757.73 on Thursday. The stock's fifty day simple moving average is $722.59 and its two-hundred day simple moving average is $696.46. Invesco QQQ has a 1-year low of $555.60 and a 1-year high of $762.86.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Monday, September 21st will be paid a $0.7514 dividend. This is a negative change from Invesco QQQ's previous quarterly dividend of $0.8135. The ex-dividend date is Monday, September 21st. This represents a $3.01 annualized dividend and a yield of 0.4%.

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.

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