Gunpowder Capital Management LLC dba Oliver Wealth Management Invests $4.40 Million in Invesco QQQ $QQQ

Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,158 shares of the exchange traded fund’s stock, valued at approximately $4,397,000. Invesco QQQ comprises about 3.4% of Gunpowder Capital Management LLC dba Oliver Wealth Management’s investment portfolio, making the stock its 9th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in shares of Invesco QQQ by 381.0% during the fourth 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 during the last quarter. Corient Private Wealth LLC lifted its position in shares of Invesco QQQ by 3,567.7% in 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 acquiring an additional 20,852,432 shares in the last quarter. Delta Global Management LP acquired a new stake in shares of Invesco QQQ in the fourth quarter worth approximately $821,084,000. Align Financial LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter worth approximately $78,118,000. Finally, SG Americas Securities LLC increased its position in shares of Invesco QQQ by 120.2% during the fourth quarter. SG Americas Securities LLC now owns 213,722 shares of the exchange traded fund’s stock worth $131,292,000 after purchasing an additional 1,270,102 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Invesco QQQ

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

• Positive Sentiment: Invesco QQQ declared a quarterly dividend of $0.8135 per share, an 11.0% increase from the prior quarter, which can improve investor sentiment toward the fund. Article Title
• Positive Sentiment: Multiple articles highlighted QQQ’s strong long-term performance, including commentary that a modest investment in the ETF a decade ago would now be worth far more, reinforcing its status as a premier growth benchmark. Article Title
• Neutral Sentiment: Broader market and ETF coverage showed U.S. equity funds trading higher at times, suggesting the macro backdrop is supportive but not specific to QQQ alone. Article Title
• Neutral Sentiment: Several Fed-related commentaries pointed to a more hawkish policy tone and less forward guidance, which could pressure rate-sensitive growth stocks even as investors assess the implications for the Nasdaq-100. Article Title

Invesco QQQ Stock Performance

Shares of QQQ opened at $740.62 on Friday. The stock has a 50 day moving average price of $695.40 and a 200 day moving average price of $639.48. Invesco QQQ has a one year low of $523.65 and a one year high of $748.65.

Invesco QQQ Increases Dividend

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

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.