Invesco QQQ $QQQ Stake Boosted by MCF Advisors LLC

MCF Advisors LLC raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 94.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,979 shares of the exchange traded fund’s stock after buying an additional 9,208 shares during the quarter. MCF Advisors LLC’s holdings in Invesco QQQ were worth $13,987,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in QQQ. Corient Private Wealth LLC grew its holdings in shares of Invesco QQQ by 3,567.7% during the fourth quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock valued at $13,168,912,000 after buying an additional 20,852,432 shares in the last quarter. Bank of America Corp DE grew its stake in Invesco QQQ by 381.0% during the 4th quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock valued at $12,008,257,000 after acquiring an additional 26,505,055 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Invesco QQQ by 11.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,547,591 shares of the exchange traded fund’s stock valued at $2,179,321,000 after purchasing an additional 375,581 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Invesco QQQ by 21.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,025,000 shares of the exchange traded fund’s stock worth $1,858,288,000 after purchasing an additional 534,000 shares in the last quarter. Finally, Analyst IMS Investment Management Services Ltd. boosted its holdings in shares of Invesco QQQ by 0.3% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,787,559 shares of the exchange traded fund’s stock worth $1,316,358,000 after purchasing an additional 4,751 shares during the period. 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: Some market commentary remains supportive of growth stocks, arguing that the Federal Reserve is unlikely to raise interest rates and that investors could continue to “ride the bull.” Lower or stable rates generally benefit QQQ’s rate-sensitive technology holdings. There Will Be No Fed Rate Hikes
• Positive Sentiment: Invesco QQQ is sponsoring the Atlanta Food & Wine Festival for a 16th year. The event provides brand visibility for Invesco, although it is unlikely to materially affect QQQ’s net asset value or near-term trading. Atlanta Food & Wine Festival Presented by Invesco QQQ
• Neutral Sentiment: Articles comparing QQQ with leveraged ETF TQQQ explain that daily-reset mechanics, volatility drag and financing costs prevent TQQQ from delivering three times QQQ’s longer-term return. The analysis does not change QQQ’s holdings but highlights the fund’s role as the unleveraged Nasdaq-100 benchmark. TQQQ Gained 59.18% While QQQ Gained 24.99%
• Negative Sentiment: Broad-market ETFs declined after midday amid higher oil prices and concerns about inflation, employment and elevated valuations. These pressures are unfavorable for QQQ’s concentrated growth-stock exposure. Exchange-Traded Funds, US Equities Fall After Midday
• Negative Sentiment: Investors are again highlighting that QQQ’s expense ratio is higher than that of comparable Invesco QQQM, which tracks the same Nasdaq-100 Index. That fee gap may encourage long-term investors to favor QQQM, although QQQ retains advantages for liquidity and trading activity. QQQ vs QQQM

Invesco QQQ Stock Down 0.3%

Shares of QQQ opened at $716.31 on Thursday. The company’s 50 day moving average price is $710.61 and its 200 day moving average price is $678.22. Invesco QQQ has a 52 week low of $555.60 and a 52 week high of $748.65.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.8135 per share. The ex-dividend date was Monday, June 22nd. This represents a $3.25 annualized dividend and a dividend yield of 0.5%. This is an increase 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.