First United Bank & Trust Sells 2,213 Shares of Invesco QQQ $QQQ

First United Bank & Trust reduced its position in Invesco QQQ (NASDAQ:QQQ) by 6.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 33,016 shares of the exchange traded fund’s stock after selling 2,213 shares during the period. Invesco QQQ accounts for approximately 6.2% of First United Bank & Trust’s investment portfolio, making the stock its largest holding. First United Bank & Trust’s holdings in Invesco QQQ were worth $19,056,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Goodman Advisory Group LLC bought a new position in Invesco QQQ in the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Invesco QQQ during the 4th quarter worth about $25,000. Shcp LLC bought a new stake in Invesco QQQ during the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in Invesco QQQ by 2,150.0% during 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 purchasing an additional 43 shares during the period. Finally, Rachor Investment Advisory Services LLC bought a new position in shares of Invesco QQQ in the 4th quarter valued at about $29,000. Institutional investors own 44.58% of the company’s stock.

Trending Headlines about 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 Trading Down 1.4%

Shares of NASDAQ:QQQ opened at $706.52 on Friday. The company has a 50 day moving average of $704.99 and a 200-day moving average of $642.79. Invesco QQQ has a one year low of $544.54 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 given a dividend of $0.8135 per share. This represents a $3.25 annualized dividend and a dividend 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.

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.