Smith Chas P & Associates PA Cpas Sells 2,302 Shares of Invesco QQQ $QQQ

Key Points

• Smith Chas P & Associates PA Cpas reduced its Invesco QQQ stake by 2.9%, selling 2,302 shares and retaining 78,088 shares worth approximately $57.5 million. QQQ remains the firm’s 12th-largest holding and represents about 2.8% of its portfolio.
• Institutional ownership of QQQ stands at 44.58%, with several investors increasing their positions during the second quarter, including Wealth Group Ltd. and Invesco Ltd.
• QQQ shares recently traded at $714.88, near their 12-month high of $748.65, while the fund raised its quarterly dividend to $0.8135 per share, equivalent to an annualized yield of about 0.5%.

Smith Chas P & Associates PA Cpas lessened its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,088 shares of the exchange traded fund's stock after selling 2,302 shares during the period. Invesco QQQ accounts for approximately 2.8% of Smith Chas P & Associates PA Cpas' investment portfolio, making the stock its 12th largest holding. Smith Chas P & Associates PA Cpas' holdings in Invesco QQQ were worth $57,504,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after buying an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC grew 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 worth $2,687,000 after acquiring an additional 176 shares during the last quarter. Jupiter Wealth Management LLC purchased a new stake in shares of Invesco QQQ during the second quarter worth about $290,000. Wealth Group Ltd. increased 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 valued at $13,587,000 after acquiring an additional 18,210 shares in the last quarter. Finally, Invesco Ltd. increased 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 valued at $18,239,000 after acquiring an additional 30,206 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Trending Headlines about Invesco QQQ

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

• Positive Sentiment: QQQ and VOO are bucking a broader exodus from large-cap equity funds, suggesting investors are still favoring liquid, mega-cap technology exposure despite concerns about the Iran conflict, higher oil prices, and inflation. Iran War, Inflation Fears Trigger $40 Billion Large-Cap Exodus — But VOO, QQQ Buck the Trend
• Positive Sentiment: Equity futures and major ETFs were higher ahead of the latest inflation release, providing a supportive backdrop for QQQ and other growth-oriented funds. Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday Amid Inflation Data Release
• Positive Sentiment: TipRanks’ AI Analyst rated QQQ an “Outperform” and identified more than 12% potential upside, reinforcing the bullish view of the Nasdaq-100’s technology-heavy holdings. 3 Best ETFs to Buy with 12%+ Upside, According to the AI Analyst
• Neutral Sentiment: A revived IPO market, including expectations for a potentially massive Anthropic offering, could improve sentiment toward high-growth technology companies, though it does not directly affect QQQ’s holdings today. Anthropic IPO Article
• Negative Sentiment: Hotter-than-expected core inflation pushed market-based odds of a September Federal Reserve rate hike toward 80%. Higher interest rates and bond yields are particularly negative for QQQ because they reduce the present value of future technology earnings. Hot Core CPI Data Sends Prediction Market September Rate Hike Odds to 80%
• Negative Sentiment: Oil above $100 a barrel and ongoing Middle East tensions are raising inflation and economic-growth risks, adding pressure to rate-sensitive growth stocks. Oil Jumps Above $100: What It Means For Inflation And Market Risks

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded up $6.19 during midday trading on Friday, hitting $714.88. The company had a trading volume of 26,581,139 shares, compared to its average volume of 49,734,879. The company has a fifty day simple moving average of $710.52 and a 200 day simple moving average of $678.92. Invesco QQQ has a 12-month low of $555.60 and a 12-month high of $748.65.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were paid a dividend of $0.8135 per share. This represents a $3.25 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, June 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.73.

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.

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