Simplicity Wealth LLC Has $5.38 Million Position in Invesco QQQ $QQQ

Simplicity Wealth LLC lessened its stake in Invesco QQQ (NASDAQ:QQQ) by 14.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 9,318 shares of the exchange traded fund’s stock after selling 1,600 shares during the period. Simplicity Wealth LLC’s holdings in Invesco QQQ were worth $5,378,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. bought a new stake in Invesco QQQ in the fourth quarter valued at approximately $25,000. Shcp LLC bought a new position in Invesco QQQ during the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC raised 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. Rachor Investment Advisory Services LLC acquired a new position in shares of Invesco QQQ in the 4th quarter worth approximately $29,000. Finally, Islay Capital Management LLC acquired a new position in shares of Invesco QQQ in the 4th quarter worth approximately $32,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 0.3%

Shares of NASDAQ:QQQ traded up $2.23 during trading on Friday, reaching $725.51. The stock had a trading volume of 26,367,856 shares, compared to its average volume of 40,630,508. Invesco QQQ has a 52 week low of $551.56 and a 52 week high of $748.65. The firm’s fifty day moving average is $718.41 and its 200 day moving average is $650.06.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 22nd were issued a $0.8135 dividend. The ex-dividend date was Monday, June 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73. This represents a $3.25 annualized dividend and a yield of 0.4%.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: Several pieces pointed to QQQ as a favored way to buy the recent tech pullback, including coverage describing it as a top ETF to load up on during the sell-off and highlighting continued investor demand for Nasdaq-100 exposure. Article Title
• Positive Sentiment: Market chatter around strong Nasdaq-100 trading activity and bullish positioning suggests some investors are still betting on a rebound in large-cap growth and AI-related stocks, which can support QQQ. Article Title
• Neutral Sentiment: BlackRock launched a competing Nasdaq-100 ETF, IQQ, which may increase competition in the category, but it also reinforces continued interest in Nasdaq-100 index products overall. Article Title
• Neutral Sentiment: Other articles focused on macro themes such as inflation, Fed policy, geopolitical tensions, and labor data; these can move QQQ through risk appetite, but they do not directly change the ETF’s fundamentals. Article Title
• Negative Sentiment: Several commentary pieces warned that higher inflation, a hawkish Fed, and geopolitical stress could pressure growth stocks and reduce appetite for Nasdaq-heavy exposure, which is a headwind for QQQ. Article Title

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.