Fortis Group Advisors LLC Has $27.55 Million Holdings in Invesco QQQ $QQQ

Fortis Group Advisors LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 5.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,300 shares of the exchange traded fund’s stock after selling 2,433 shares during the period. Invesco QQQ comprises 4.7% of Fortis Group Advisors LLC’s investment portfolio, making the stock its biggest position. Fortis Group Advisors LLC’s holdings in Invesco QQQ were worth $27,548,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Prevail Innovative Wealth Advisors LLC grew its position in shares of Invesco QQQ by 392.5% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 2,241 shares of the exchange traded fund’s stock valued at $1,377,000 after acquiring an additional 1,786 shares during the period. Harmony Asset Management LLC grew its position in shares of Invesco QQQ by 8.0% during the 4th quarter. Harmony Asset Management LLC now owns 7,431 shares of the exchange traded fund’s stock valued at $4,565,000 after acquiring an additional 550 shares during the period. Legacy Financial Group Inc. grew its position in shares of Invesco QQQ by 24.6% during the 4th quarter. Legacy Financial Group Inc. now owns 1,007 shares of the exchange traded fund’s stock valued at $619,000 after acquiring an additional 199 shares during the period. Aspen Investment Management Inc grew its position in shares of Invesco QQQ by 0.7% during the 4th quarter. Aspen Investment Management Inc now owns 4,323 shares of the exchange traded fund’s stock valued at $2,655,000 after acquiring an additional 29 shares during the period. Finally, Burling Wealth Partners LLC grew its position in shares of Invesco QQQ by 26.4% during the 4th quarter. Burling Wealth Partners LLC now owns 972 shares of the exchange traded fund’s stock valued at $597,000 after acquiring an additional 203 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 1.7%

Invesco QQQ stock opened at $713.15 on Thursday. Invesco QQQ has a 1-year low of $505.58 and a 1-year high of $722.03. The firm has a 50 day simple moving average of $634.47 and a 200 day simple moving average of $621.80.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were paid a $0.7328 dividend. This represents a $2.93 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, March 23rd.

Invesco QQQ News Summary

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

• Positive Sentiment: Recent coverage says QQQ’s concentrated exposure to the biggest AI beneficiaries is outperforming equal-weight Nasdaq alternatives, reinforcing the fund’s leadership as investors keep rewarding large-cap tech. The AI Capex Cycle Is Crushing Equal-Weight NASDAQ. Here’s Why QQQ’s Concentration Bet Is Winning
• Positive Sentiment: Commentary around Nvidia’s upcoming earnings says the report could be a major catalyst for QQQ because the ETF has heavy exposure to the AI leader and other megacap chip-related names. What Nvidia Earnings Mean for VOO and QQQ
• Neutral Sentiment: Some market strategists still see opportunities in emerging markets and other areas outside the U.S. tech complex, which could compete with flows into QQQ if investors rotate away from the Nasdaq. Emerging markets could soar this year, says CIO
• Negative Sentiment: Several articles warn that profit-taking, valuation concerns, and possible market broadening could pressure QQQ if investors move out of the biggest tech winners. Don’t Mistake Profit Taking For A Regime Change: This Ain’t Market Broadening
• Negative Sentiment: ETF-flow commentary notes rising rate fears and higher bond yields are creating headwinds for growth stocks, which could weigh on QQQ’s tech-heavy portfolio. Fed Rate Hike Fears: Rippling Through ETF Flows

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.