Asset Allocation Strategies LLC Purchases Shares of 31,432 Invesco QQQ $QQQ

Asset Allocation Strategies LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ) during the first quarter, Holdings Channel.com reports. The firm purchased 31,432 shares of the exchange traded fund’s stock, valued at approximately $18,142,000. Invesco QQQ makes up approximately 3.2% of Asset Allocation Strategies LLC’s investment portfolio, making the stock its 8th biggest position.

Several other large investors also recently modified their holdings of the stock. Carrera Capital Advisors grew its holdings in shares of Invesco QQQ by 99.3% during the fourth quarter. Carrera Capital Advisors now owns 2,316 shares of the exchange traded fund’s stock valued at $1,423,000 after buying an additional 1,154 shares during the last quarter. Sovran Advisors LLC raised its holdings in shares of Invesco QQQ by 8.0% in the 4th quarter. Sovran Advisors LLC now owns 18,032 shares of the exchange traded fund’s stock worth $11,212,000 after acquiring an additional 1,340 shares during the last quarter. Corepath Wealth Partners LLC lifted its position in Invesco QQQ by 19.7% in the 4th quarter. Corepath Wealth Partners LLC now owns 8,723 shares of the exchange traded fund’s stock valued at $5,471,000 after acquiring an additional 1,436 shares in the last quarter. Cane Capital Partners LLC bought a new position in Invesco QQQ in the 4th quarter valued at about $715,000. Finally, Mariner LLC boosted its stake in Invesco QQQ by 2.6% during the 4th quarter. Mariner LLC now owns 1,084,500 shares of the exchange traded fund’s stock valued at $666,226,000 after purchasing an additional 27,560 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

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

Invesco QQQ Increases Dividend

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

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 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.