SMART Wealth LLC Reduces Holdings in Invesco QQQ $QQQ

SMART Wealth LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 22.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,131 shares of the exchange traded fund’s stock after selling 2,389 shares during the quarter. Invesco QQQ accounts for approximately 1.4% of SMART Wealth LLC’s holdings, making the stock its 17th biggest holding. SMART Wealth LLC’s holdings in Invesco QQQ were worth $4,693,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QQQ. Goodman Advisory Group LLC purchased a new stake in shares of Invesco QQQ during the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Invesco QQQ during the 4th quarter valued at approximately $25,000. Shcp LLC acquired a new stake in Invesco QQQ during the 3rd quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Invesco QQQ by 2,150.0% during 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 during the last quarter. Finally, Rachor Investment Advisory Services LLC purchased a new stake in Invesco QQQ during the 4th quarter worth approximately $29,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 1.7%

Shares of QQQ opened at $736.40 on Wednesday. The business’s 50 day moving average is $708.42 and its two-hundred day moving average is $644.38. Invesco QQQ has a 52-week low of $544.66 and a 52-week high of $748.65.

Invesco QQQ Increases Dividend

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

Trending Headlines about Invesco QQQ

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 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.