Apollon Wealth Management LLC Has $55.76 Million Holdings in Invesco QQQ $QQQ

Apollon Wealth Management LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 5.2% during the first quarter, Holdings Channel reports. The fund owned 96,607 shares of the exchange traded fund’s stock after purchasing an additional 4,800 shares during the period. Invesco QQQ makes up about 0.9% of Apollon Wealth Management LLC’s portfolio, making the stock its 19th biggest position. Apollon Wealth Management LLC’s holdings in Invesco QQQ were worth $55,760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goodman Advisory Group LLC bought a new stake in shares of Invesco QQQ during the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Invesco QQQ in the fourth quarter valued at about $25,000. Shcp LLC bought a new position in shares of Invesco QQQ in the third quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Invesco QQQ by 2,150.0% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock valued at $28,000 after buying an additional 43 shares during the last quarter. Finally, Rachor Investment Advisory Services LLC acquired a new position in Invesco QQQ during the 4th quarter worth about $29,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $706.52 on Monday. Invesco QQQ has a 12 month low of $544.54 and a 12 month high of $748.65. The company’s 50-day moving average price is $704.99 and its two-hundred day moving average price is $642.92.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.8135 per share. The ex-dividend date is Monday, June 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73. This represents a $3.25 dividend on an annualized basis and a dividend yield of 0.5%.

Invesco QQQ News Summary

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 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.