Modern Wealth Management LLC Sells 62,738 Shares of Invesco QQQ $QQQ

Modern Wealth Management LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 33.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 126,602 shares of the exchange traded fund’s stock after selling 62,738 shares during the quarter. Invesco QQQ accounts for approximately 1.3% of Modern Wealth Management LLC’s holdings, making the stock its 15th largest holding. Modern Wealth Management LLC’s holdings in Invesco QQQ were worth $73,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CAP Partners LLC increased its holdings in shares of Invesco QQQ by 3.5% in the first quarter. CAP Partners LLC now owns 444 shares of the exchange traded fund’s stock worth $256,000 after acquiring an additional 15 shares in the last quarter. Durante & Waters LLC lifted its holdings in shares of Invesco QQQ by 1.1% during the 1st quarter. Durante & Waters LLC now owns 1,425 shares of the exchange traded fund’s stock valued at $822,000 after purchasing an additional 15 shares in the last quarter. Well Done LLC lifted its holdings in shares of Invesco QQQ by 0.5% during the 4th quarter. Well Done LLC now owns 3,439 shares of the exchange traded fund’s stock valued at $2,113,000 after purchasing an additional 16 shares in the last quarter. Forty three Eighteen Advisors LLC grew its position in shares of Invesco QQQ by 0.6% in the 1st quarter. Forty three Eighteen Advisors LLC now owns 2,694 shares of the exchange traded fund’s stock valued at $1,555,000 after purchasing an additional 16 shares during the period. Finally, Tenon Financial LLC grew its position in shares of Invesco QQQ by 2.2% in the 4th quarter. Tenon Financial LLC now owns 805 shares of the exchange traded fund’s stock valued at $494,000 after purchasing an additional 17 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $691.96 on Friday. The business has a 50 day simple moving average of $719.36 and a 200 day simple moving average of $655.76. Invesco QQQ has a 52-week low of $551.68 and a 52-week high of $748.65.

Invesco QQQ Increases Dividend

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

Trending Headlines about Invesco QQQ

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

• Positive Sentiment: Some commentary remains constructive on the market’s earnings backdrop, with articles noting that earnings growth is still broadening and that large-cap technology fundamentals remain a key driver for index performance.
• Neutral Sentiment: Several pieces focus on QQQ’s long-term track record and comparisons with other funds, but they are more informational than market-moving for the ETF itself. Article Title
• Neutral Sentiment: Analysts and market writers are also debating whether the market is overvalued and whether equity rotation is accelerating, which may add to volatility in growth-heavy ETFs like QQQ.
• Negative Sentiment: Broad-market ETFs and U.S. equities moved lower during the session, and live market coverage pointed to the Dow falling as investors sold stocks ahead of key earnings reports, a backdrop that can weigh on QQQ. Article Title
• Negative Sentiment: Reports that Alphabet and Tesla sold off on earnings news are particularly relevant because both are major components of QQQ, raising concern that heavyweight tech earnings could drag the ETF lower. Article Title

About Invesco QQQ

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.