Balance Wealth LLC Boosts Holdings in Invesco QQQ $QQQ

Balance Wealth LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 9.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 49,973 shares of the exchange traded fund’s stock after acquiring an additional 4,124 shares during the quarter. Invesco QQQ accounts for about 9.0% of Balance Wealth LLC’s investment portfolio, making the stock its largest holding. Balance Wealth LLC’s holdings in Invesco QQQ were worth $28,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Goodman Advisory Group LLC purchased 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 worth $25,000. Shcp LLC purchased a new position in shares of Invesco QQQ in the third quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC grew its position 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 purchasing an additional 43 shares in the last quarter. Finally, Rachor Investment Advisory Services LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $29,000. 44.58% of the stock is owned by institutional investors.

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 Price Performance

Shares of QQQ opened at $706.52 on Friday. The stock’s 50-day simple moving average is $704.99 and its 200 day simple moving average is $642.79. Invesco QQQ has a 52-week low of $544.54 and a 52-week 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 given a dividend of $0.8135 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.73. This represents a $3.25 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, June 22nd.

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.