Invesco QQQ $QQQ Shares Sold by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 35.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,414 shares of the exchange traded fund’s stock after selling 3,561 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Invesco QQQ were worth $3,702,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Goodman Advisory Group LLC acquired a new stake in shares of Invesco QQQ in the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at about $25,000. Shcp LLC acquired a new position in shares of Invesco QQQ during the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Invesco QQQ by 2,150.0% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock worth $28,000 after acquiring an additional 43 shares during the period. Finally, Rachor Investment Advisory Services LLC acquired a new position in shares of Invesco QQQ during the fourth quarter worth about $29,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $706.52 on Monday. Invesco QQQ has a 52-week low of $544.54 and a 52-week high of $748.65. The firm has a 50-day moving average price of $704.99 and a 200 day moving average price of $642.92.

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 given a dividend of $0.8135 per share. This represents a $3.25 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, June 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73.

Key Stories 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 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.