TOP Private Wealth LLC. Purchases Shares of 8,419 Invesco QQQ $QQQ

Key Points

• TOP Private Wealth LLC. purchased 8,419 shares of Invesco QQQ in the second quarter, valued at approximately $6.2 million and representing 5.9% of its portfolio.
• QQQ shares opened at $718.96, up 0.2%, and remained near their 12-month high of $748.65. Institutional investors and hedge funds own 44.58% of the ETF.
• QQQ raised its quarterly dividend to $0.8135, or $3.25 annualized, producing a 0.5% yield. Positive Nasdaq-100 momentum and strong technology earnings support the fund, while higher interest rates, Treasury yields, and AI-margin concerns pose risks.

TOP Private Wealth LLC. purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,419 shares of the exchange traded fund's stock, valued at approximately $6,200,000. Invesco QQQ accounts for about 5.9% of TOP Private Wealth LLC.'s holdings, making the stock its 5th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in Invesco QQQ by 381.0% during the 4th quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund's stock worth $12,008,257,000 after purchasing an additional 26,505,055 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Invesco QQQ by 3,567.7% during the fourth quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund's stock worth $13,168,912,000 after buying an additional 20,852,432 shares during the period. Delta Global Management LP bought a new position in Invesco QQQ during the fourth quarter worth $821,084,000. Align Financial LLC acquired a new position in Invesco QQQ in the fourth quarter valued at $78,118,000. Finally, Bank of Montreal Can lifted its holdings in Invesco QQQ by 142.4% in the fourth quarter. Bank of Montreal Can now owns 1,431,050 shares of the exchange traded fund's stock valued at $877,406,000 after buying an additional 840,803 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Invesco QQQ

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

• Positive Sentiment: QQQ benefited from relative strength in the Nasdaq-100, while investor sentiment toward QQQ turned bullish ahead of the latest labor-market data. QQQ ETF edges higher as Nasdaq-100 outperforms
• Positive Sentiment: The August jobs report reportedly exceeded expectations, easing immediate concerns about a weakening labor market and supporting the “soft landing” or “Goldilocks” case for equities. That backdrop can help growth-focused technology stocks held by QQQ. Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Friday After August Jobs Report Tops Estimates
• Positive Sentiment: Analysts highlighted broad second-quarter earnings strength and a possible new capital-formation cycle, both of which could support continued demand for large-cap technology and artificial-intelligence companies represented in the Nasdaq-100. Second Quarter Earnings Show Breadth
• Neutral Sentiment: Trading was mixed across major ETFs, with some broad-market funds advancing and others declining. This suggests QQQ’s gains were driven more by Nasdaq-100 leadership than by a uniformly strong market. Exchange-Traded Funds Mixed, US Equities Lower After Midday
• Negative Sentiment: Investors are also weighing the possibility that resilient hiring and a separate report describing hot August inflation could delay rate cuts or even prompt a Federal Reserve hike. Higher interest rates generally pressure the long-duration growth stocks that dominate QQQ. Why The Fed Might Hike Rates After A Red-Hot August Inflation Report
• Negative Sentiment: Concerns that rising long-term Treasury yields could reflect inflation, fiscal pressure, or other structural risks create an additional valuation headwind for QQQ. Benign Or Malign? Reasons For The Rise In Long-Term U.S. Interest Rates
• Negative Sentiment: Profit-margin concerns surrounding the artificial-intelligence boom could weigh on several major QQQ holdings if heavy infrastructure spending fails to generate sufficient returns. The AI Boom Is Eating Its Own Margins

Invesco QQQ Stock Up 0.2%

Shares of QQQ opened at $718.96 on Friday. The firm's fifty day simple moving average is $711.26 and its two-hundred day simple moving average is $675.29. Invesco QQQ has a 12 month low of $555.60 and a 12 month high of $748.65.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were paid a $0.8135 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $3.25 dividend on an annualized basis and a dividend yield of 0.5%. 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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

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