Frank Rimerman Advisors LLC Cuts Stock Holdings in Invesco QQQ $QQQ

Frank Rimerman Advisors LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 0.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 147,254 shares of the exchange traded fund’s stock after selling 761 shares during the quarter. Invesco QQQ makes up approximately 5.6% of Frank Rimerman Advisors LLC’s portfolio, making the stock its 2nd largest holding. Frank Rimerman Advisors LLC’s holdings in Invesco QQQ were worth $84,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in QQQ. Well Done LLC lifted its holdings in Invesco QQQ by 0.5% in the 4th quarter. Well Done LLC now owns 3,439 shares of the exchange traded fund’s stock worth $2,113,000 after purchasing an additional 16 shares during the last quarter. Tenon Financial LLC boosted its position in Invesco QQQ by 2.2% during the fourth quarter. Tenon Financial LLC now owns 805 shares of the exchange traded fund’s stock worth $494,000 after purchasing an additional 17 shares during the period. SJS Investment Consulting Inc. grew its holdings in Invesco QQQ by 1.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 1,017 shares of the exchange traded fund’s stock valued at $625,000 after purchasing an additional 17 shares during the last quarter. Cascade Investment Group Inc. grew its holdings in Invesco QQQ by 4.6% during the fourth quarter. Cascade Investment Group Inc. now owns 388 shares of the exchange traded fund’s stock valued at $238,000 after purchasing an additional 17 shares during the last quarter. Finally, Keeler & Nadler Financial Planning & Wealth Management raised its position in shares of Invesco QQQ by 3.0% in the fourth quarter. Keeler & Nadler Financial Planning & Wealth Management now owns 576 shares of the exchange traded fund’s stock valued at $354,000 after purchasing an additional 17 shares during the period. 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: QQQ continues to be viewed as a relatively resilient way to own the AI and tech trade, with commentary noting it absorbed recent tech turbulence better than more concentrated names like CoreWeave. CRWV Vs. QQQ: Buy CoreWeave for Explosive AI Alpha or Hold QQQ for Insulated Macro Safety?
• Positive Sentiment: SpaceX’s addition to the Nasdaq-100 is seen as a modest tailwind for index funds like QQQ, since passive funds tracking the Nasdaq-100 have to own the new constituent. SpaceX Is Joining the Nasdaq-100 This Week. What This Means for Invesco QQQ Investors.
• Neutral Sentiment: Several articles highlight how dominant the Nasdaq-100 has become in growth ETF flows, which supports QQQ’s importance but also reinforces that investors are crowded into the same mega-cap names. The Nasdaq 100 Now Controls a Quarter of Every Growth ETF Dollar
• Neutral Sentiment: BlackRock’s planned cheaper Nasdaq-100 ETF may increase competition for QQQ, but it does not change the fund’s holdings or near-term market exposure. QQQ, Meet IQQ. BlackRock Is Launching a Cheaper Nasdaq-100 ETF.
• Negative Sentiment: Broader market weakness tied to U.S.-Iran tensions, higher oil prices, and rising Treasury yields weighed on tech and chip stocks, which can pressure QQQ because of its heavy concentration in those sectors. Dow Ends Lower To Record Worst Day In Nearly A Month As US-Iran Jitters Push Oil Prices
• Negative Sentiment: Market commentary is increasingly focused on AI-trade fatigue and concentration risk in the Nasdaq, raising concerns that the rally may be vulnerable if the biggest growth names weaken. Broadcom Stock: The 1 Number That Could Tell You a Market Turn Is Coming

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $711.44 on Thursday. The firm has a fifty day simple moving average of $715.82 and a 200-day simple moving average of $648.78. Invesco QQQ has a 1-year low of $551.56 and a 1-year high of $748.65.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.8135 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $3.25 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73.

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.