Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) by 82.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 148,366 shares of the exchange traded fund’s stock after purchasing an additional 66,859 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Invesco QQQ were worth $109,757,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Parvin Asset Management LLC acquired a new position in shares of Invesco QQQ in the 1st quarter valued at $28,000. High Point Wealth Management LLC lifted its position in Invesco QQQ by 68.0% during the 2nd quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund’s stock worth $31,000 after acquiring an additional 17 shares during the period. Financial Management Professionals Inc. lifted its position in Invesco QQQ by 83.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 55 shares of the exchange traded fund’s stock worth $41,000 after acquiring an additional 25 shares during the period. Bullseye Investment Management LLC acquired a new stake in Invesco QQQ during the 2nd quarter worth about $44,000. Finally, DecisionPoint Financial LLC grew its stake in Invesco QQQ by 65.0% during the 3rd quarter. DecisionPoint Financial LLC now owns 66 shares of the exchange traded fund’s stock valued at $49,000 after purchasing an additional 26 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.
More Invesco QQQ News
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: Some market commentary argues that the broader bear market may be ending rather than beginning, which could support QQQ’s growth-oriented holdings if risk appetite improves. The Bear Market Is Ending, Not Beginning
- Positive Sentiment: Historical comparisons continue to highlight QQQ’s stronger long-term growth relative to the S&P 500-tracking SPY, reinforcing its appeal to investors seeking greater exposure to technology and communications companies. There’s a $12,000 Reason to Consider Investing in QQQ Over SPY, but It Comes With a Caveat
- Positive Sentiment: A discussion of QQQ’s performance after a weak October suggests that historical November trends could provide a near-term seasonal tailwind, although past performance is not a guarantee. QQQ After A -6.7% October: What History Says About November
- Neutral Sentiment: Comparisons with Vanguard Information Technology ETF (VGT) frame QQQ as a tech-heavy but broader Nasdaq-100 fund; the choice depends on desired diversification, sector exposure and risk. VGT vs. QQQ: Which Tech ETF Is the Better Long-Term Buy?
- Neutral Sentiment: Broad U.S. equity ETFs moved higher during the session, providing a generally supportive market backdrop, but the report did not identify a QQQ-specific catalyst. Exchange-Traded Funds Higher as US Equities Rise After Midday
- Negative Sentiment: Several articles warn that the AI trade may be confronting reality, including stretched valuations, heavy spending requirements and credit-market risks. Those concerns are particularly important for QQQ because many of its largest holdings are AI beneficiaries. The AI Bubble Ran Into Reality Last Week The Credit Market’s Warning Is Coming Back To Haunt AI Stocks
- Negative Sentiment: QQQ’s concentration in a small number of mega-cap companies—and significant exposure to Apple—can amplify downside when investors reduce positions in high-growth technology stocks. Fidelity’s Broader Nasdaq ETF Has a Surprise for QQQ Investors: Even More Apple
Invesco QQQ Price Performance
Shares of QQQ stock opened at $681.09 on Tuesday. The stock’s 50-day simple moving average is $724.35 and its 200-day simple moving average is $679.29. Invesco QQQ has a fifty-two week low of $555.60 and a fifty-two week high of $762.86.
Invesco QQQ Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Monday, September 21st were issued a dividend of $0.7514 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 0.4%. This is a negative change from Invesco QQQ’s previous quarterly dividend of $0.8135. The ex-dividend date of this dividend was Monday, September 21st.
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.
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Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ – Free Report).
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