Private Wealth Management Group LLC Purchases 4,973 Shares of Invesco QQQ $QQQ

Key Points

• Private Wealth Management Group LLC increased its Invesco QQQ position by 870.9% in the second quarter, buying 4,973 additional shares for a total of 5,544 shares valued at approximately $4.08 million.
• Other institutional investors also expanded their QQQ holdings, with institutional and hedge-fund ownership reaching 44.58% of the ETF.
• QQQ was trading at $713.44, near its 12-month high of $748.65, while its quarterly dividend rose to $0.8135 per share, representing an annualized yield of approximately 0.5%.

Private Wealth Management Group LLC raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 870.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,544 shares of the exchange traded fund's stock after purchasing an additional 4,973 shares during the quarter. Invesco QQQ accounts for about 0.9% of Private Wealth Management Group LLC's holdings, making the stock its 10th biggest holding. Private Wealth Management Group LLC's holdings in Invesco QQQ were worth $4,083,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after acquiring an additional 176 shares during the last quarter. Jupiter Wealth Management LLC bought a new position in shares of Invesco QQQ during the second quarter valued at $290,000. Wealth Group Ltd. lifted its holdings in shares of Invesco QQQ by 283.7% during the second quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund's stock worth $13,587,000 after purchasing an additional 18,210 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Invesco QQQ by 1,057.3% during the second quarter. Invesco Ltd. now owns 33,063 shares of the exchange traded fund's stock worth $18,239,000 after purchasing an additional 30,206 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.4%

NASDAQ QQQ opened at $713.44 on Friday. The business's 50-day moving average price is $713.76 and its two-hundred day moving average price is $668.02. Invesco QQQ has a 12 month low of $555.60 and a 12 month high of $748.65.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were issued a $0.8135 dividend. The ex-dividend date 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 0.5%.

More Invesco QQQ News

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

• Positive Sentiment: U.S. equities and exchange-traded funds advanced after midday, providing a favorable backdrop for QQQ’s Nasdaq-100 holdings. Exchange-Traded Funds Rise as US Equities Advance After Midday
• Positive Sentiment: An analysis describing a relatively inexpensive way to own artificial-intelligence exposure may reinforce demand for established technology companies represented heavily in QQQ. The Boring Way To Own AI Is Now The Cheap Way
• Positive Sentiment: Technical market commentary identified key support and resistance levels for QQQ and major holdings including Apple, Microsoft, Nvidia, Alphabet, Meta and Tesla, potentially encouraging dip-buying if support holds. How To Trade SPY, QQQ And 6 Mega Caps
• Neutral Sentiment: Market coverage said stocks were attempting to rebound while yields moved higher, leaving QQQ caught between improving risk appetite and pressure from higher borrowing costs. Markets Try To Bounce Back As Yields Head Higher
• Neutral Sentiment: Debate over Treasury policy, inflation, monetary support and U.S. market leadership is adding uncertainty to the interest-rate outlook, an important driver of growth-stock valuations. War, Inflation, And The Battle For Market Leadership
• Negative Sentiment: Credit-market risks may be underappreciated by AI-focused stocks, raising concerns about concentrated valuations and potential volatility among QQQ’s technology holdings. AI Stocks May Be Ignoring A Growing Risk Seen In Credit Markets
• Negative Sentiment: A hawkish interpretation of Federal Reserve minutes and the recent bond selloff could keep interest rates elevated, which generally weighs on high-growth technology stocks. Fed Minutes Lean Hawkish, But We Don't Expect A Hike

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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