Tepp RIA LLC Has $17.43 Million Stock Position in Invesco QQQ $QQQ

Key Points

• Tepp RIA LLC reduced its Invesco QQQ stake by 18.8% in the second quarter, selling 5,468 shares and retaining 23,669 shares worth approximately $17.43 million. QQQ remains the firm’s third-largest holding, representing 11.8% of its portfolio.
• Invesco QQQ opened at $713.44, compared with a 12-month range of $555.60 to $748.65; its 50-day and 200-day moving averages were $713.76 and $668.31, respectively.
• QQQ increased its quarterly dividend to $0.8135 per share, equivalent to an annualized $3.25 dividend and a 0.5% yield. The ETF tracks the Nasdaq-100 and is heavily exposed to large technology companies.

Tepp RIA LLC trimmed its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,669 shares of the exchange traded fund's stock after selling 5,468 shares during the period. Invesco QQQ comprises about 11.8% of Tepp RIA LLC's investment portfolio, making the stock its 3rd largest position. Tepp RIA LLC's holdings in Invesco QQQ were worth $17,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of QQQ. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at $25,000. Shcp LLC bought a new stake in shares of Invesco QQQ in the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Invesco QQQ by 2,150.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund's stock worth $28,000 after purchasing an additional 43 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Invesco QQQ during the 1st quarter worth about $28,000. Finally, Rachor Investment Advisory Services LLC bought a new position in Invesco QQQ during the 4th quarter valued at about $29,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: U.S. equities and exchange-traded funds advanced after midday, providing a favorable backdrop for QQQ’s Nasdaq-100 holdings. Exchange-Traded Funds Rise as US Equities Advance After Midday
• Positive Sentiment: An analysis describing a relatively inexpensive way to own artificial-intelligence exposure may reinforce demand for established technology companies represented heavily in QQQ. The Boring Way To Own AI Is Now The Cheap Way
• Positive Sentiment: Technical market commentary identified key support and resistance levels for QQQ and major holdings including Apple, Microsoft, Nvidia, Alphabet, Meta and Tesla, potentially encouraging dip-buying if support holds. How To Trade SPY, QQQ And 6 Mega Caps
• Neutral Sentiment: Market coverage said stocks were attempting to rebound while yields moved higher, leaving QQQ caught between improving risk appetite and pressure from higher borrowing costs. Markets Try To Bounce Back As Yields Head Higher
• Neutral Sentiment: Debate over Treasury policy, inflation, monetary support and U.S. market leadership is adding uncertainty to the interest-rate outlook, an important driver of growth-stock valuations. War, Inflation, And The Battle For Market Leadership
• Negative Sentiment: Credit-market risks may be underappreciated by AI-focused stocks, raising concerns about concentrated valuations and potential volatility among QQQ’s technology holdings. AI Stocks May Be Ignoring A Growing Risk Seen In Credit Markets
• Negative Sentiment: A hawkish interpretation of Federal Reserve minutes and the recent bond selloff could keep interest rates elevated, which generally weighs on high-growth technology stocks. Fed Minutes Lean Hawkish, But We Don't Expect A Hike

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $713.44 on Monday. Invesco QQQ has a 12 month low of $555.60 and a 12 month high of $748.65. The company's 50-day moving average price is $713.76 and its two-hundred day moving average price is $668.31.

Invesco QQQ Increases Dividend

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

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.

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