Whittier Trust Co. of Nevada Inc. Sells 2,278 Shares of Invesco QQQ $QQQ

Key Points

• Whittier Trust Co. of Nevada reduced its Invesco QQQ position by 3.6%, selling 2,278 shares and retaining 61,443 shares valued at approximately $43.6 million.
• QQQ shares opened at $713.44, near the 50-day moving average, and remain below the one-year high of $748.65. The fund also increased its quarterly dividend to $0.8135, equivalent to an annualized yield of about 0.5%.
• Institutional investors and hedge funds own 44.58% of QQQ, while market commentary highlights support from strong technology and AI exposure but warns that higher interest rates, credit risks and concentrated valuations could increase volatility.

Whittier Trust Co. of Nevada Inc. decreased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,443 shares of the exchange traded fund's stock after selling 2,278 shares during the period. Invesco QQQ accounts for 0.8% of Whittier Trust Co. of Nevada Inc.'s holdings, making the stock its 21st biggest position. Whittier Trust Co. of Nevada Inc.'s holdings in Invesco QQQ were worth $43,590,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Invesco QQQ during the fourth quarter worth $25,000. High Point Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 68.0% during the 2nd quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund's stock valued at $31,000 after purchasing an additional 17 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Invesco QQQ by 2,150.0% in 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. Shcp LLC acquired a new stake in shares of Invesco QQQ in the 3rd quarter worth $27,000. Finally, Rachor Investment Advisory Services LLC purchased a new position in Invesco QQQ during the 4th quarter worth $29,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.4%

Shares of NASDAQ:QQQ opened at $713.44 on Friday. The business's 50-day moving average is $713.76 and its 200 day moving average is $668.02. Invesco QQQ has a 1 year low of $555.60 and a 1 year high of $748.65.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were issued a $0.8135 dividend. This is a boost from Invesco QQQ's previous quarterly dividend of $0.73. This represents a $3.25 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend 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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