Taiyo Life Insurance Co. Cuts Holdings in Invesco QQQ $QQQ

Key Points

• Taiyo Life Insurance Co. reduced its Invesco QQQ stake by 18.5% in the first quarter, selling 34,000 shares and leaving it with 150,000 shares worth about $86.6 million.
• Despite the sale, QQQ still represents a significant part of Taiyo Life’s portfolio, making up 9.6% of its assets and its 5th-largest position.
• The article also notes broader investor activity in QQQ, with several smaller institutional holders modestly increasing their positions and institutional ownership overall standing at 44.58%.

Taiyo Life Insurance Co. cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 150,000 shares of the exchange traded fund's stock after selling 34,000 shares during the period. Invesco QQQ accounts for 9.6% of Taiyo Life Insurance Co.'s portfolio, making the stock its 5th biggest position. Taiyo Life Insurance Co.'s holdings in Invesco QQQ were worth $86,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CAP Partners LLC boosted its holdings in Invesco QQQ by 3.5% in the first quarter. CAP Partners LLC now owns 444 shares of the exchange traded fund's stock valued at $256,000 after acquiring an additional 15 shares in the last quarter. Durante & Waters LLC raised its holdings in Invesco QQQ by 1.1% in the 1st quarter. Durante & Waters LLC now owns 1,425 shares of the exchange traded fund's stock worth $822,000 after purchasing an additional 15 shares in the last quarter. Well Done LLC raised its holdings in Invesco QQQ by 0.5% in the 4th quarter. Well Done LLC now owns 3,439 shares of the exchange traded fund's stock worth $2,113,000 after purchasing an additional 16 shares in the last quarter. Forty three Eighteen Advisors LLC lifted its position in shares of Invesco QQQ by 0.6% in the 1st quarter. Forty three Eighteen Advisors LLC now owns 2,694 shares of the exchange traded fund's stock worth $1,555,000 after purchasing an additional 16 shares during the period. Finally, Tenon Financial LLC lifted its position in shares of Invesco QQQ by 2.2% in the 4th quarter. Tenon Financial LLC now owns 805 shares of the exchange traded fund's stock worth $494,000 after purchasing an additional 17 shares during the period. Institutional investors own 44.58% of the company's stock.

More Invesco QQQ News

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

• Positive Sentiment: Apple is outperforming and hitting fresh records, which helps support QQQ because AAPL is one of its largest holdings. AAPL Stock Hits Fresh Record As July Rally Nears Best Month In Nearly 4 Years — HSBC Sees Another 10% Upside
• Neutral Sentiment: New ETF launches and commentary continue to highlight investor interest in Nasdaq and tech income strategies, but these are not strong enough to move QQQ on their own. Meet TMGN, the 0.88 Fee ETF Betting on Tech Giants and Options Income
• Neutral Sentiment: Broad-market ETFs and U.S. equities were mixed to lower intraday, suggesting overall risk appetite has softened. Exchange-Traded Funds Fall as US Equities Decline After Midday
• Negative Sentiment: Chip stocks are under pressure on TSMC capex concerns, hurting the semiconductor-heavy portion of the Nasdaq-100 and weighing on QQQ. S&P 500, Nasdaq, Dow End Lower As Chip Stocks Slide On TSMC Capex Concerns — TSM, MU, NVDA, UNH, GOOGL In Focus
• Negative Sentiment: Tech and momentum stocks are seeing some of the highest volatility in decades, adding to pressure on the Nasdaq-100 and QQQ. The Tech Shakeout: Market Extremes & Gavin Baker's Bold Call

Invesco QQQ Price Performance

Shares of QQQ opened at $695.33 on Monday. Invesco QQQ has a 1-year low of $551.68 and a 1-year high of $748.65. The firm's 50-day moving average price is $720.41 and its 200-day moving average price is $653.36.

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 $0.8135 dividend. This represents a $3.25 annualized dividend and a yield of 0.5%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.73. The ex-dividend date was Monday, June 22nd.

Invesco QQQ Company 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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