Consolidated Investment Group LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) by 0.8% during the third quarter, Holdings Channel reports. The firm owned 360,400 shares of the exchange traded fund’s stock after buying an additional 2,900 shares during the quarter. Invesco QQQ makes up approximately 23.6% of Consolidated Investment Group LLC’s portfolio, making the stock its biggest position. Consolidated Investment Group LLC’s holdings in Invesco QQQ were worth $266,613,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in QQQ. Kestra Investment Management LLC raised its position in shares of Invesco QQQ by 187.3% in the 3rd quarter. Kestra Investment Management LLC now owns 11,726 shares of the exchange traded fund’s stock worth $8,675,000 after acquiring an additional 7,645 shares in the last quarter. AlphaCore Capital LLC lifted its stake in shares of Invesco QQQ by 22.6% in the 3rd quarter. AlphaCore Capital LLC now owns 34,299 shares of the exchange traded fund’s stock valued at $25,399,000 after purchasing an additional 6,325 shares during the period. Palacios Wealth Management LLC lifted its stake in shares of Invesco QQQ by 5.0% in the 3rd quarter. Palacios Wealth Management LLC now owns 1,777 shares of the exchange traded fund’s stock valued at $1,315,000 after purchasing an additional 85 shares during the period. Clear Wave Wealth Management LLC boosted its position in shares of Invesco QQQ by 10.9% during the third quarter. Clear Wave Wealth Management LLC now owns 5,749 shares of the exchange traded fund’s stock valued at $4,253,000 after purchasing an additional 565 shares in the last quarter. Finally, Fulcrum Asset Management LLP bought a new stake in shares of Invesco QQQ during the third quarter valued at approximately $934,000. 44.58% of the stock is currently owned by institutional investors.
Invesco QQQ Stock Up 3.5%
Shares of QQQ stock opened at $679.35 on Tuesday. The business’s fifty day moving average is $720.23 and its 200 day moving average is $680.65. Invesco QQQ has a twelve month low of $555.60 and a twelve month high of $762.86.
Invesco QQQ Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Monday, September 21st were issued a dividend of $0.7514 per share. This is a drop from Invesco QQQ’s previous quarterly dividend of $0.8135. The ex-dividend date was Monday, September 21st. This represents a $3.01 dividend on an annualized basis and a dividend yield of 0.4%.
Key Stories Impacting Invesco QQQ
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: Broad U.S. equity ETFs and equity futures moved higher on Monday amid a global market recovery, which likely supported QQQ along with other growth-oriented funds. Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday Amid Global Market Recovery Exchange-Traded Funds Higher as US Equities Advance After Midday
- Neutral Sentiment: A retrospective on QQQ’s performance since launch highlights its strong long-term returns, but offers little new information about near-term trading. If You’d Invested $5,000 in QQQ the Day It Launched, Here’s What You’d Have Today
- Negative Sentiment: One report said QQQ sold about $2.1 billion of stock on Nov. 5 and bought none, trimming all 101 positions. That broad selling may weigh on sentiment, though the report does not establish the reason for the transactions. Invesco QQQ (QQQ) Sells Apple and Nvidia on Nov. 5
- Negative Sentiment: Recent commentary flagged deteriorating market momentum and downside risk for the Nasdaq, including a bearish scenario for QQQ. These are analyst opinions, not confirmed forecasts, but they may reinforce caution toward the fund’s tech-heavy exposure. Q4 Rally Cycle Cracks As Negative Momentum Signals Worsen From October The Nasdaq Is Toast: QQQ Could Go 40% Lower Here’s How, And What Could Stop It
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.
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