Retirement Planning Group LLC Trims Stock Position in Invesco QQQ $QQQ

Key Points

• Retirement Planning Group LLC cut its Invesco QQQ stake by 8.4% in the first quarter, selling 3,458 shares and ending with 37,789 shares worth about $21.8 million.
• QQQ remains heavily owned by institutions, with hedge funds and other institutional investors holding 44.58% of the ETF’s shares. Several large firms, including Bank of America and Corient Private Wealth, significantly increased their positions in recent quarters.
• The ETF paid a higher quarterly dividend of $0.8135 per share, up from $0.73 previously, bringing the annualized payout to about $3.25 and the yield to 0.5%.

Retirement Planning Group LLC lessened its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,789 shares of the exchange traded fund's stock after selling 3,458 shares during the period. Invesco QQQ accounts for approximately 0.7% of Retirement Planning Group LLC's portfolio, making the stock its 20th largest position. Retirement Planning Group LLC's holdings in Invesco QQQ were worth $21,811,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Invesco QQQ by 381.0% in the 4th quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund's stock valued at $12,008,257,000 after purchasing an additional 26,505,055 shares during the period. Corient Private Wealth LLC grew its stake in Invesco QQQ by 3,567.7% during the 4th quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund's stock worth $13,168,912,000 after buying an additional 20,852,432 shares during the last quarter. Delta Global Management LP acquired a new position in Invesco QQQ during the fourth quarter worth approximately $821,084,000. Align Financial LLC acquired a new position in Invesco QQQ during the fourth quarter worth approximately $78,118,000. Finally, SG Americas Securities LLC lifted its stake in Invesco QQQ by 120.2% in the fourth quarter. SG Americas Securities LLC now owns 213,722 shares of the exchange traded fund's stock valued at $131,292,000 after buying an additional 1,270,102 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ stock opened at $712.05 on Tuesday. The business has a 50 day simple moving average of $719.30 and a 200-day simple moving average of $650.91. Invesco QQQ has a twelve month low of $551.56 and a twelve month high of $748.65.

Invesco QQQ Increases Dividend

The firm 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. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.73. The ex-dividend date was Monday, June 22nd. This represents a $3.25 annualized dividend and a yield of 0.5%.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: Articles highlighting the Nasdaq-100 / QQQ’s long-term edge versus income-focused ETFs may support demand for QQQ by reminding investors that covered-call strategies like JEPQ can lag a growth-heavy benchmark over time. Article Title
• Positive Sentiment: Coverage suggesting the AI trade is still strong could be supportive for QQQ, since the ETF is heavily weighted toward large-cap technology and AI-related names. Article Title
• Positive Sentiment: Discussion of SpaceX joining the Nasdaq-100 may be mildly supportive for QQQ because it reinforces the index’s exposure to high-profile growth companies, even if the initial weighting is expected to be limited. Article Title
• Neutral Sentiment: Reports that broader ETFs traded lower as U.S. equities declined point to a market-wide risk-off tone rather than anything specific to QQQ. Article Title
• Neutral Sentiment: Festival sponsorship news and general macro commentary are not likely to materially affect QQQ. Article Title
• Negative Sentiment: Broader market headlines about equity futures falling on geopolitical tension could weigh on QQQ because technology stocks tend to be sensitive to risk-off moves. Article Title
• Negative Sentiment: Articles warning that the credit market is flashing concern on AI stocks may create caution for QQQ, given its heavy exposure to mega-cap tech and AI beneficiaries. Article Title

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.