Granite Harbor Advisors Inc. Reduces Holdings in Invesco QQQ $QQQ

Granite Harbor Advisors Inc. reduced its position in Invesco QQQ (NASDAQ:QQQ) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,616 shares of the exchange traded fund’s stock after selling 696 shares during the quarter. Invesco QQQ comprises approximately 8.5% of Granite Harbor Advisors Inc.’s investment portfolio, making the stock its biggest holding. Granite Harbor Advisors Inc.’s holdings in Invesco QQQ were worth $19,403,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of QQQ. Brighton Jones LLC lifted its holdings in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after purchasing an additional 4,989 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of 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 worth $2,687,000 after acquiring an additional 176 shares in the last quarter. Jupiter Wealth Management LLC acquired a new stake in Invesco QQQ in the second quarter valued at approximately $290,000. Wealth Group Ltd. grew its stake in Invesco QQQ by 283.7% in the 2nd quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund’s stock valued at $13,587,000 after acquiring an additional 18,210 shares during the period. Finally, Invesco Ltd. grew its position in shares of Invesco QQQ by 1,057.3% in the second 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. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ News Roundup

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

• Positive Sentiment: The Nasdaq and broader U.S. equity markets moved higher into month-end, helping support QQQ as investors rotated back into large-cap technology and growth names. Stock Market Today: Nasdaq Shows Its Might; This Tech Player Hits A New High (Live Coverage)
• Positive Sentiment: Several pieces pointed to continued strength in Nasdaq-100 ETFs, arguing the index still has room to climb and that seasonality, improving breadth, and technical momentum could keep inflows coming. 3 Reasons Investors Should Buy in July
• Positive Sentiment: SpaceX’s planned July 7 entry into the Nasdaq-100 could trigger estimated passive inflows into index funds that track the benchmark, including QQQ, creating a near-term demand tailwind. SpaceX Achieves Escape Velocity With Nasdaq Fast-Track
• Neutral Sentiment: Some commentary warned that the tech rally may be stretched, citing concentration risk in mega-cap names and prior weakness in the Nasdaq 100, which could temper enthusiasm for QQQ. Nasdaq 100 Flashes Warning Signs After 5-Day Slide: Is The Tech Rally Running Out Of Steam?
• Neutral Sentiment: Articles debating whether investors should hedge or diversify beyond mega-caps highlight concern about QQQ’s heavy tech concentration, but they do not signal an immediate fundamental problem for the fund. It’s Time To Hedge

Invesco QQQ Stock Up 1.7%

Shares of NASDAQ:QQQ opened at $736.40 on Wednesday. Invesco QQQ has a 1 year low of $544.66 and a 1 year high of $748.65. The business’s 50 day moving average price is $708.42 and its 200-day moving average price is $644.38.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.8135 per share. This represents a $3.25 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 22nd. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.73.

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.