Griffin Asset Management Inc. Has $8.29 Million Holdings in Invesco QQQ $QQQ

Griffin Asset Management Inc. cut its position in shares of Invesco QQQ (NASDAQ:QQQ) by 6.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,369 shares of the exchange traded fund’s stock after selling 958 shares during the quarter. Griffin Asset Management Inc.’s holdings in Invesco QQQ were worth $8,294,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Well Done LLC raised its holdings in shares of Invesco QQQ by 0.5% during the fourth quarter. Well Done LLC now owns 3,439 shares of the exchange traded fund’s stock valued at $2,113,000 after acquiring an additional 16 shares during the period. Tenon Financial LLC boosted its stake in Invesco QQQ by 2.2% in the 4th 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. boosted its stake in Invesco QQQ by 1.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 1,017 shares of the exchange traded fund’s stock worth $625,000 after purchasing an additional 17 shares during the period. Cascade Investment Group Inc. grew its position in Invesco QQQ by 4.6% during the 4th quarter. Cascade Investment Group Inc. now owns 388 shares of the exchange traded fund’s stock worth $238,000 after purchasing an additional 17 shares in the last quarter. Finally, Keeler & Nadler Financial Planning & Wealth Management grew its position in Invesco QQQ by 3.0% during the 4th quarter. Keeler & Nadler Financial Planning & Wealth Management now owns 576 shares of the exchange traded fund’s stock worth $354,000 after purchasing an additional 17 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Invesco QQQ

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

• Positive Sentiment: Investors are still viewing QQQ as a go-to way to buy the tech-heavy Nasdaq-100, with multiple articles highlighting it as a strong dip-buying vehicle and noting heavy recent trading activity in the ETF. Article Title
• Positive Sentiment: Supportive market coverage around the Nasdaq-100 and QQQ suggests continued demand for large-cap growth exposure, which can help the ETF when tech stocks stabilize. Article Title
• Neutral Sentiment: BlackRock launched a cheaper Nasdaq-100 rival, iShares Nasdaq 100 ETF (IQQ), directly challenging Invesco QQQ and potentially pressuring fee-sensitive investor flows over time. Article Title
• Neutral Sentiment: Several pieces noted rising competition in the Nasdaq-100 ETF space and the index’s growing concentration in mega-cap tech, reinforcing QQQ’s dominance while also underscoring valuation and concentration risks. Article Title
• Negative Sentiment: Commentary warning that the AI and Nasdaq-100 trade may be overheating could weigh on sentiment if investors start rotating out of high-growth tech exposure. Article Title

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $723.23 on Friday. The company’s fifty day moving average is $717.13 and its two-hundred day moving average is $649.53. Invesco QQQ has a 12-month low of $551.56 and a 12-month high of $748.65.

Invesco QQQ Increases Dividend

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

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.