Ridgepath Capital Management LLC Raises Position in Invesco QQQ $QQQ

Key Points

• Ridgepath Capital Management increased its stake in Invesco QQQ by 105.5% in the first quarter, buying 1,592 additional shares to bring its total to 3,101 shares worth about $1.79 million.
• Other institutional investors also added to QQQ positions, and hedge funds and other institutions now own 44.58% of the ETF.
• Invesco QQQ recently raised its quarterly dividend to $0.8135 per share from $0.73, equal to an annualized payout of $3.25 and a yield of about 0.5%.

Ridgepath Capital Management LLC boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 105.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,101 shares of the exchange traded fund's stock after buying an additional 1,592 shares during the period. Invesco QQQ makes up about 0.9% of Ridgepath Capital Management LLC's holdings, making the stock its 21st largest holding. Ridgepath Capital Management LLC's holdings in Invesco QQQ were worth $1,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cannon Capital Management Inc. lifted its position in Invesco QQQ by 7.4% during the first quarter. Cannon Capital Management Inc. now owns 32,026 shares of the exchange traded fund's stock valued at $18,485,000 after purchasing an additional 2,204 shares during the last quarter. Legacy Wealth Managment LLC ID increased its holdings in shares of Invesco QQQ by 15.4% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 1,306 shares of the exchange traded fund's stock worth $754,000 after buying an additional 174 shares during the last quarter. Beta Wealth Group Inc. increased its holdings in shares of Invesco QQQ by 6.0% in the 1st quarter. Beta Wealth Group Inc. now owns 1,028 shares of the exchange traded fund's stock worth $593,000 after buying an additional 58 shares during the last quarter. Paul R. Ried Financial Group LLC purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at $236,000. Finally, AlTi Global Inc. raised its position in shares of Invesco QQQ by 7.9% during the 1st quarter. AlTi Global Inc. now owns 25,209 shares of the exchange traded fund's stock valued at $14,594,000 after buying an additional 1,842 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.1%

NASDAQ QQQ opened at $696.06 on Tuesday. Invesco QQQ has a 52-week low of $551.68 and a 52-week high of $748.65. The company has a fifty day moving average of $720.06 and a 200-day moving average of $653.90.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were given a dividend of $0.8135 per share. The ex-dividend date was Monday, June 22nd. This is a positive change 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%.

Key Invesco QQQ News

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

• Positive Sentiment: Analysts highlighted improving market momentum and said the current rates-of-change still support the bull market, which is constructive for QQQ’s tech-heavy holdings. Improving Rates Of Change Support The Bull Market
• Positive Sentiment: Another article argued that AI capital spending and the upcoming earnings wave could continue to support hyperscalers and other large Nasdaq names, a bullish backdrop for QQQ. AI CapEx, Hyperscalers, And The Next Earnings Wave
• Neutral Sentiment: Invesco QQQ’s low-volatility ETF declared a monthly distribution, which is more relevant as a routine income update than as a major driver of the main QQQ fund. Invesco QQQ low volatility ETF declares monthly distribution of $0.0481
• Negative Sentiment: Some commentary warned that tech is showing warning signs and that valuations may be stretched, which could pressure QQQ if growth stocks cool off. An Extreme Energy Crack Spread And Two Warning Signs In Technology
• Negative Sentiment: Other reports said tariffs and inflation are pushing the economy toward a recession, a risk that could hurt risk assets and high-multiple tech shares. Tariffs And Inflation Are Pushing The Economy Toward A Recession
• Negative Sentiment: A market note warned that a large liquidity event could hit markets this week, creating volatility for QQQ’s major holdings. A $90 Billion Liquidity Storm May Hit Markets This Week
• Negative Sentiment: One article also compared the AI boom to the dot-com bust, reinforcing concern that tech enthusiasm may be running too hot. The AI Bubble Looks A Lot Like Dot-Com Bust

Invesco QQQ 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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

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.