Summit Financial LLC Sells 1,406 Shares of Invesco QQQ $QQQ

Key Points

• Summit Financial LLC cut its Invesco QQQ stake by 1.3% in the fourth quarter, selling 1,406 shares and ending with 110,418 shares valued at about $67.8 million.
• Even after the sale, QQQ remained a meaningful holding for Summit Financial, representing roughly 1.0% of its portfolio and its 15th-largest position. Other institutional investors also made only modest adjustments, and hedge funds still own 44.58% of the ETF.
• QQQ was trading higher, opening at $721.34, and recently paid a quarterly dividend of $0.7328 per share, equal to an annualized yield of about 0.4%.

Summit Financial LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,418 shares of the exchange traded fund's stock after selling 1,406 shares during the period. Invesco QQQ makes up approximately 1.0% of Summit Financial LLC's investment portfolio, making the stock its 15th biggest position. Summit Financial LLC's holdings in Invesco QQQ were worth $67,831,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Well Done LLC boosted its holdings in shares of Invesco QQQ by 0.5% in the fourth quarter. Well Done LLC now owns 3,439 shares of the exchange traded fund's stock valued at $2,113,000 after purchasing an additional 16 shares during the period. Tenon Financial LLC boosted its holdings in shares of Invesco QQQ by 2.2% in the fourth quarter. Tenon Financial LLC now owns 805 shares of the exchange traded fund's stock valued at $494,000 after purchasing an additional 17 shares during the period. SJS Investment Consulting Inc. boosted its holdings in shares of Invesco QQQ by 1.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 1,017 shares of the exchange traded fund's stock valued at $625,000 after purchasing an additional 17 shares during the period. Cascade Investment Group Inc. boosted its holdings in shares of Invesco QQQ by 4.6% in the fourth quarter. Cascade Investment Group Inc. now owns 388 shares of the exchange traded fund's stock valued at $238,000 after purchasing an additional 17 shares during the period. Finally, Keeler & Nadler Financial Planning & Wealth Management boosted its holdings in shares of Invesco QQQ by 3.0% in the fourth quarter. Keeler & Nadler Financial Planning & Wealth Management now owns 576 shares of the exchange traded fund's stock valued at $354,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.6%

Shares of NASDAQ QQQ opened at $721.34 on Friday. The stock has a 50 day moving average price of $680.91 and a 200 day moving average price of $635.17. Invesco QQQ has a 52-week low of $523.65 and a 52-week high of $748.65.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were issued a $0.7328 dividend. The ex-dividend date was Monday, March 23rd. This represents a $2.93 dividend on an annualized basis and a dividend yield of 0.4%.

Invesco QQQ News Roundup

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

• Positive Sentiment: Short-term liquidity could improve market conditions, which may support growth stocks and the Nasdaq-100 holdings inside QQQ. A Short-Term Liquidity Boost May Be Coming To Markets
• Positive Sentiment: Broad U.S. equities were moving higher during the day, and ETF strength suggests investors were still willing to add exposure to large-cap growth and tech names. Exchange-Traded Funds Rise as US Equities Advance After Midday
• Neutral Sentiment: Some commentary suggests QQQ remains the familiar way to own the Nasdaq-100, but investors are being reminded that cheaper alternatives exist, which may affect fund flows more than near-term performance. Forget QQQ as the Same Company Sells the Same Nasdaq-100 for 17% Less
• Neutral Sentiment: One ETF comparison argued that QQQ has historically outperformed some thematic tech funds, reinforcing its role as a benchmark Nasdaq-100 vehicle rather than a direct catalyst for a move in the fund. ARKQ vs. QQQ: Which Tech Stock ETF is the Better Buy?
• Negative Sentiment: Multiple articles warned that May CPI showed inflation remaining elevated, which could keep the Fed on hold or push it toward a more hawkish stance—typically a headwind for high-valuation tech stocks in QQQ. May CPI Report: War Impact Remains Contained, Allowing The Fed To Stay On Hold
• Negative Sentiment: Several pieces focused on a possible AI bubble, slower token spending, and “cracks” in the AI trade, which could pressure Nasdaq-heavy funds like QQQ if investors rotate out of mega-cap tech. Market Rotation Alert: The AI Bubble Is Showing Cracks

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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