Synergy Asset Management LLC Has $10.25 Million Stock Holdings in Invesco QQQ $QQQ

Key Points

• Synergy Asset Management increased its Invesco QQQ position by 379.3% in the second quarter, purchasing 11,015 additional shares. Its 13,919-share stake was valued at $10.25 million and represented about 1% of the firm’s holdings.
• Institutional ownership remains significant, with investors collectively holding 44.58% of QQQ. Shares opened at $731.07, near the ETF’s 12-month high of $748.65.
• QQQ’s quarterly dividend rose to $0.8135 per share, or $3.25 annualized, producing a 0.4% yield. Cooling inflation and lower rate-hike expectations support growth stocks, though elevated valuations, credit concerns and bearish bets could increase volatility.

Synergy Asset Management LLC lifted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 379.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,919 shares of the exchange traded fund's stock after purchasing an additional 11,015 shares during the quarter. Invesco QQQ accounts for approximately 1.0% of Synergy Asset Management LLC's holdings, making the stock its 29th biggest holding. Synergy Asset Management LLC's holdings in Invesco QQQ were worth $10,250,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Carrera Capital Advisors raised its position in Invesco QQQ by 99.3% in the 4th quarter. Carrera Capital Advisors now owns 2,316 shares of the exchange traded fund's stock valued at $1,423,000 after purchasing an additional 1,154 shares during the last quarter. Flatrock Wealth Partners LLC acquired a new position in Invesco QQQ in the first quarter worth $924,000. Hegarty Advisors LLC bought a new stake in shares of Invesco QQQ during the first quarter worth $2,212,000. Ascension Capital Advisors Inc. grew its holdings in shares of Invesco QQQ by 643.8% during the first quarter. Ascension Capital Advisors Inc. now owns 3,094 shares of the exchange traded fund's stock worth $1,786,000 after purchasing an additional 2,678 shares during the last quarter. Finally, Asset Allocation Strategies LLC acquired a new stake in shares of Invesco QQQ in the first quarter valued at $18,142,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $731.07 on Friday. The business has a fifty day moving average of $713.13 and a 200-day moving average of $664.89. Invesco QQQ has a twelve month low of $555.60 and a twelve month high of $748.65.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.8135 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $3.25 dividend on an annualized basis and a yield of 0.4%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.73.

Key Headlines Impacting Invesco QQQ

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

• Positive Sentiment: Cooling inflation and weaker labor-market data have reduced expectations for additional Federal Reserve rate hikes. Lower-rate expectations generally support QQQ’s technology and other growth-oriented holdings by improving the outlook for future earnings valuations. However, geopolitical risks around the Strait of Hormuz could keep oil prices and inflation volatile. Cooling Inflation Likely to Aid These ETF Areas
• Positive Sentiment: Exchange-traded funds were broadly higher before Friday’s opening, with investors awaiting retail-sales data. A constructive broader-market tone provided some support for QQQ, although mixed equity futures limited the follow-through. Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Friday Amid Retail Sales Data
• Positive Sentiment: Potential large technology IPOs, including Anthropic, could add another high-profile growth company to the Nasdaq ecosystem and potentially reinforce investor interest in technology-focused funds. Any direct benefit to QQQ would depend on the company’s eventual listing and index eligibility. Millions of 401(k) Holders Could Be Forced to Buy Anthropic Stock
• Neutral Sentiment: Investor sentiment is mixed: cooling inflation supports equities, but a historically elevated CAPE ratio and concerns about credit-market stress suggest that QQQ’s strong rally has left it vulnerable to volatility and profit-taking. What An All-Time High CAPE Ratio Implies for Investors
• Negative Sentiment: Investor Michael Burry has increased his bearish position against the QQQ ETF despite losses. The trade does not change the fund’s holdings, but it highlights skepticism about elevated technology valuations and may weigh on sentiment. Michael Burry Ramped Up His Bets Against Micron and the QQQ ETF

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source