Werba Rubin Papier Wealth Management Makes New $1.51 Million Investment in Invesco QQQ $QQQ

Key Points

• Werba Rubin Papier Wealth Management acquired 2,046 shares of Invesco QQQ in the second quarter, representing a new investment valued at approximately $1.51 million.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 44.58% of QQQ; several firms increased their positions during the second quarter.
• QQQ opened at $713.44, within its 52-week range of $555.60 to $748.65. Its quarterly dividend rose to $0.8135 per share, or $3.25 annualized, for a yield of approximately 0.5%.

Werba Rubin Papier Wealth Management acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,046 shares of the exchange traded fund's stock, valued at approximately $1,506,000.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Invesco QQQ by 15.0% in the 4th 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 in the last quarter. Revolve Wealth Partners LLC boosted its stake in Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after purchasing an additional 176 shares during the last quarter. Jupiter Wealth Management LLC bought a new stake in Invesco QQQ during the 2nd quarter worth approximately $290,000. Wealth Group Ltd. increased its holdings in Invesco QQQ by 283.7% during the 2nd quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund's stock worth $13,587,000 after purchasing an additional 18,210 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Invesco QQQ by 1,057.3% during the 2nd quarter. Invesco Ltd. now owns 33,063 shares of the exchange traded fund's stock worth $18,239,000 after purchasing an additional 30,206 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

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

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 22nd were issued a dividend of $0.8135 per share. This represents a $3.25 annualized dividend and a 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.

Key Invesco QQQ News

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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