Invesco QQQ $QQQ Shares Purchased by Independent Wealth Network Inc.

Independent Wealth Network Inc. raised its stake in Invesco QQQ (NASDAQ:QQQ) by 37.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,936 shares of the exchange traded fund’s stock after purchasing an additional 2,430 shares during the quarter. Invesco QQQ comprises about 1.5% of Independent Wealth Network Inc.’s investment portfolio, making the stock its 9th biggest position. Independent Wealth Network Inc.’s holdings in Invesco QQQ were worth $5,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Morton Brown Family Wealth LLC boosted its position in shares of Invesco QQQ by 2.6% in the first quarter. Morton Brown Family Wealth LLC now owns 3,317 shares of the exchange traded fund’s stock worth $1,914,000 after buying an additional 83 shares during the period. OLD National Bancorp IN raised its holdings in shares of Invesco QQQ by 862.5% during the 1st quarter. OLD National Bancorp IN now owns 57,268 shares of the exchange traded fund’s stock valued at $33,054,000 after buying an additional 51,318 shares during the period. Balance Wealth LLC lifted its position in Invesco QQQ by 9.0% during the 1st quarter. Balance Wealth LLC now owns 49,973 shares of the exchange traded fund’s stock worth $28,844,000 after acquiring an additional 4,124 shares in the last quarter. Threadgill Financial LLC lifted its position in Invesco QQQ by 3.6% during the 1st quarter. Threadgill Financial LLC now owns 2,262 shares of the exchange traded fund’s stock worth $1,305,000 after acquiring an additional 78 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Invesco QQQ in the 1st quarter worth approximately $26,435,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: Chipmaker strength helped calm some AI-related worries, with overnight futures supported by strong Micron results and broader optimism that the AI trade still has room to run.
• Neutral Sentiment: Several market commentary pieces argue that rotation is broadening beyond mega-cap tech, which could mean less concentration risk for QQQ but also a less dominant leadership role for the ETF.
• Neutral Sentiment: Invesco QQQ is also facing fresh competition, as State Street launched a rival Nasdaq-100 ETF and BlackRock is expected to enter the category, which may pressure fee and asset-growth dynamics over time. Article Title
• Negative Sentiment: Inflation readings remained sticky, including higher core PCE and core services inflation, reinforcing fears that the Fed may stay restrictive longer than hoped and weighing on growth stocks.
• Negative Sentiment: Bearish market commentary about a possible liquidity shock and an “S&P 500 bubble burst” likely added to pressure on QQQ’s tech-heavy holdings, which tend to be sensitive to tightening financial conditions.

Invesco QQQ Stock Down 1.4%

Shares of NASDAQ:QQQ opened at $706.52 on Friday. Invesco QQQ has a 52-week low of $544.54 and a 52-week high of $748.65. The company has a 50 day moving average of $704.99 and a two-hundred day moving average of $642.79.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 22nd will be paid 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 is Monday, June 22nd.

Invesco QQQ 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.