BKM Wealth Management LLC Sells 849 Shares of Invesco QQQ $QQQ

BKM Wealth Management LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 22.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,875 shares of the exchange traded fund’s stock after selling 849 shares during the quarter. BKM Wealth Management LLC’s holdings in Invesco QQQ were worth $1,659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QQQ. Goodman Advisory Group LLC bought a new stake in shares of Invesco QQQ in the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $25,000. Shcp LLC bought a new position in Invesco QQQ in the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC boosted 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 worth $28,000 after buying an additional 43 shares during the period. Finally, Rachor Investment Advisory Services LLC purchased a new position in Invesco QQQ in the 4th quarter valued at approximately $29,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $706.52 on Monday. The firm has a 50 day simple moving average of $704.99 and a 200 day simple moving average of $642.92. Invesco QQQ has a 1-year low of $544.54 and a 1-year high of $748.65.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 22nd will be issued a $0.8135 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This is an increase 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%.

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.

About Invesco QQQ

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.