Invesco QQQ $QQQ is Element Squared LLC’s 4th Largest Position

Element Squared LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 99.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 22,136 shares of the exchange traded fund’s stock after buying an additional 11,030 shares during the quarter. Invesco QQQ accounts for about 7.2% of Element Squared LLC’s investment portfolio, making the stock its 4th biggest holding. Element Squared LLC’s holdings in Invesco QQQ were worth $12,777,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Impact Partnership Wealth LLC grew its holdings in Invesco QQQ by 60.8% during the first quarter. Impact Partnership Wealth LLC now owns 114,592 shares of the exchange traded fund’s stock worth $66,140,000 after acquiring an additional 43,317 shares during the period. Lighthouse Wealth Management Inc. lifted its holdings in Invesco QQQ by 4.7% in the first quarter. Lighthouse Wealth Management Inc. now owns 25,806 shares of the exchange traded fund’s stock valued at $14,895,000 after acquiring an additional 1,160 shares during the period. Manchester Financial Inc. boosted its position in shares of Invesco QQQ by 15.5% during the 1st quarter. Manchester Financial Inc. now owns 2,304 shares of the exchange traded fund’s stock worth $1,330,000 after purchasing an additional 310 shares in the last quarter. Mayflower Financial Advisors LLC boosted its position in shares of Invesco QQQ by 1.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 6,027 shares of the exchange traded fund’s stock worth $3,479,000 after purchasing an additional 87 shares in the last quarter. Finally, 626 Financial LLC grew its stake in shares of Invesco QQQ by 15.5% during the 1st quarter. 626 Financial LLC now owns 409 shares of the exchange traded fund’s stock worth $236,000 after purchasing an additional 55 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: The Nasdaq and broader U.S. equity markets moved higher into month-end, helping support QQQ as investors rotated back into large-cap technology and growth names. Stock Market Today: Nasdaq Shows Its Might; This Tech Player Hits A New High (Live Coverage)
• Positive Sentiment: Several pieces pointed to continued strength in Nasdaq-100 ETFs, arguing the index still has room to climb and that seasonality, improving breadth, and technical momentum could keep inflows coming. 3 Reasons Investors Should Buy in July
• Positive Sentiment: SpaceX’s planned July 7 entry into the Nasdaq-100 could trigger estimated passive inflows into index funds that track the benchmark, including QQQ, creating a near-term demand tailwind. SpaceX Achieves Escape Velocity With Nasdaq Fast-Track
• Neutral Sentiment: Some commentary warned that the tech rally may be stretched, citing concentration risk in mega-cap names and prior weakness in the Nasdaq 100, which could temper enthusiasm for QQQ. Nasdaq 100 Flashes Warning Signs After 5-Day Slide: Is The Tech Rally Running Out Of Steam?
• Neutral Sentiment: Articles debating whether investors should hedge or diversify beyond mega-caps highlight concern about QQQ’s heavy tech concentration, but they do not signal an immediate fundamental problem for the fund. It’s Time To Hedge

Invesco QQQ Trading Up 1.7%

Shares of NASDAQ QQQ opened at $736.40 on Wednesday. Invesco QQQ has a 52 week low of $544.66 and a 52 week high of $748.65. The firm has a 50-day moving average price of $708.42 and a 200 day moving average price of $644.38.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 22nd will be issued a $0.8135 dividend. This represents a $3.25 dividend on an annualized basis and a yield of 0.4%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend 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.