Berkshire Money Management Inc. Trims Stock Position in Invesco QQQ $QQQ

Berkshire Money Management Inc. decreased its position in Invesco QQQ (NASDAQ:QQQ) by 26.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,501 shares of the exchange traded fund’s stock after selling 35,115 shares during the period. Invesco QQQ makes up 5.7% of Berkshire Money Management Inc.’s holdings, making the stock its 6th biggest holding. Berkshire Money Management Inc.’s holdings in Invesco QQQ were worth $55,699,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Corient Private Wealth LLC increased its position 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 acquiring an additional 20,852,432 shares during the last quarter. Bank of America Corp DE increased its position 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 purchasing an additional 26,505,055 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Invesco QQQ by 11.8% during 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 buying an additional 375,581 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake 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 acquiring an additional 534,000 shares during the last quarter. Finally, Analyst IMS Investment Management Services Ltd. boosted its position in shares of Invesco QQQ by 68.6% during the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 1,750,079 shares of the exchange traded fund’s stock valued at $1,075,091,000 after buying an additional 712,026 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Key Headlines Impacting Invesco QQQ

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

• Positive Sentiment: Chipmaker strength helped calm some AI-related worries, with overnight futures supported by strong Micron results and broader optimism that the AI trade still has room to run.
• Neutral Sentiment: Several market commentary pieces argue that rotation is broadening beyond mega-cap tech, which could mean less concentration risk for QQQ but also a less dominant leadership role for the ETF.
• Neutral Sentiment: Invesco QQQ is also facing fresh competition, as State Street launched a rival Nasdaq-100 ETF and BlackRock is expected to enter the category, which may pressure fee and asset-growth dynamics over time. Article Title
• Negative Sentiment: Inflation readings remained sticky, including higher core PCE and core services inflation, reinforcing fears that the Fed may stay restrictive longer than hoped and weighing on growth stocks.
• Negative Sentiment: Bearish market commentary about a possible liquidity shock and an “S&P 500 bubble burst” likely added to pressure on QQQ’s tech-heavy holdings, which tend to be sensitive to tightening financial conditions.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $706.52 on Friday. Invesco QQQ has a 12-month low of $544.54 and a 12-month high of $748.65. The firm has a 50 day moving average of $704.99 and a 200 day moving average of $642.79.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.8135 per share. The ex-dividend date is Monday, June 22nd. This represents a $3.25 annualized dividend and a yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.73.

Invesco QQQ 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.