Allen Investment Management LLC Has $181.92 Million Stock Position in Invesco QQQ $QQQ

Allen Investment Management LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 10.0% in the 4th quarter, Holdings Channel reports. The fund owned 296,141 shares of the exchange traded fund’s stock after purchasing an additional 26,908 shares during the quarter. Invesco QQQ comprises 2.0% of Allen Investment Management LLC’s portfolio, making the stock its 15th biggest holding. Allen Investment Management LLC’s holdings in Invesco QQQ were worth $181,922,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Goodman Advisory Group LLC bought a new stake in Invesco QQQ in the 3rd quarter valued at $25,000. Shcp LLC acquired a new stake in Invesco QQQ in the 3rd quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Invesco QQQ by 2,150.0% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock valued at $28,000 after acquiring an additional 43 shares in the last quarter. Rachor Investment Advisory Services LLC bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $29,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Invesco QQQ in the third quarter valued at $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.6%

Shares of QQQ stock opened at $742.74 on Tuesday. Invesco QQQ has a one year low of $515.97 and a one year high of $745.65. The stock has a fifty day moving average price of $655.03 and a 200 day moving average price of $627.83.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were paid a $0.7328 dividend. The ex-dividend date was Monday, March 23rd. This represents a $2.93 dividend on an annualized basis and a dividend yield of 0.4%.

More Invesco QQQ News

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

• Positive Sentiment: Futures and broader market indicators started the day on a strong footing, with tech leadership helping sentiment and QQQ showing only cautious retail positioning despite the upbeat opening tone. Nasdaq, S&P 500 Futures Open June On Strong Footing: Why NVDA, DELL, HPE, TSM, TSLA, SPCE, RVMD Are In Focus
• Positive Sentiment: Risk appetite remains supported by enthusiasm for semiconductor and AI-related stocks, which can lift the Nasdaq-100 and the Invesco QQQ (QQQ) ETF because of its heavy exposure to mega-cap tech. The Semiconductor Play Nobody Owns Just Lapped Wall Street’s Biggest Names
• Neutral Sentiment: U.S. equity ETFs and broad market gauges were mixed after midday, suggesting no clear market-wide catalyst driving QQQ in either direction. Exchange-Traded Funds, US Equities Mixed After Midday
• Neutral Sentiment: Retail sentiment on QQQ was described as cautious and neutral, indicating traders are not aggressively positioning for a breakout despite the recent strength. Profitless Tech Surges 57% As Wall Street Signals Caution
• Negative Sentiment: Geopolitical tension in the Middle East and higher oil prices are pressuring premarket sentiment, which can weigh on growth stocks and the Invesco QQQ (QQQ) by reviving inflation and rate concerns. Pre-Markets Turn South on News from Middle East
• Negative Sentiment: Wall Street strategists are warning that rising yields and speculative behavior could hurt high-growth, money-losing tech names, a potential headwind for QQQ’s tech-heavy portfolio. Profitless Tech Surges 57% As Wall Street Signals Caution

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.