Trademark Financial Management LLC Decreases Holdings in Invesco QQQ $QQQ

Key Points

• Trademark Financial Management LLC cut its Invesco QQQ stake by 20.3% in the second quarter, selling 1,727 shares and retaining 6,781 shares valued at approximately $4.99 million.
• Other institutions made significant moves in QQQ, including Wealth Group Ltd. and Invesco Ltd., while institutional investors collectively owned 44.58% of the ETF.
• QQQ was trading at $713.44, near its 52-week high, and raised its quarterly dividend to $0.8135 per share, equivalent to a 0.5% annualized yield.

Trademark Financial Management LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 20.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,781 shares of the exchange traded fund's stock after selling 1,727 shares during the quarter. Invesco QQQ accounts for approximately 2.0% of Trademark Financial Management LLC's holdings, making the stock its 13th largest position. Trademark Financial Management LLC's holdings in Invesco QQQ were worth $4,994,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Brighton Jones LLC increased its position in Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after purchasing an additional 176 shares during the last quarter. Jupiter Wealth Management LLC purchased a new position in Invesco QQQ in the second quarter worth about $290,000. Wealth Group Ltd. grew its stake in shares of Invesco QQQ by 283.7% during the 2nd quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund's stock valued at $13,587,000 after purchasing an additional 18,210 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Invesco QQQ by 1,057.3% during the 2nd quarter. Invesco Ltd. now owns 33,063 shares of the exchange traded fund's stock valued at $18,239,000 after purchasing an additional 30,206 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Up 0.4%

NASDAQ QQQ opened at $713.44 on Friday. The company has a 50-day moving average price of $713.76 and a 200-day moving average price of $668.02. Invesco QQQ has a 52 week low of $555.60 and a 52 week high of $748.65.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 22nd were given a dividend of $0.8135 per share. This represents a $3.25 annualized dividend and a yield of 0.5%. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.73. The ex-dividend date was Monday, June 22nd.

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 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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