Invesco QQQ $QQQ Shares Sold by Washburn Capital Management Inc.

Washburn Capital Management Inc. lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.2% in the 1st quarter, Holdings Channel reports. The fund owned 39,089 shares of the exchange traded fund’s stock after selling 891 shares during the period. Invesco QQQ comprises 13.1% of Washburn Capital Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Washburn Capital Management Inc.’s holdings in Invesco QQQ were worth $22,562,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of QQQ. University of Texas Texas AM Investment Management Co. acquired a new position in Invesco QQQ during the 4th quarter valued at about $25,000. Annis Gardner Whiting Capital Advisors LLC increased its stake 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 during the period. Shcp LLC acquired a new stake in shares of Invesco QQQ in the third quarter valued at approximately $27,000. Rachor Investment Advisory Services LLC bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $29,000. Finally, Islay Capital Management LLC bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ traded up $2.23 during midday trading on Friday, hitting $725.51. 26,367,856 shares of the company’s stock were exchanged, compared to its average volume of 40,630,508. Invesco QQQ has a twelve month low of $551.56 and a twelve month high of $748.65. The stock’s 50 day moving average price is $718.41 and its 200-day moving average price is $650.06.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were paid a dividend of $0.8135 per share. This represents a $3.25 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.73.

More Invesco QQQ News

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

• Positive Sentiment: Several pieces pointed to QQQ as a favored way to buy the recent tech pullback, including coverage describing it as a top ETF to load up on during the sell-off and highlighting continued investor demand for Nasdaq-100 exposure. Article Title
• Positive Sentiment: Market chatter around strong Nasdaq-100 trading activity and bullish positioning suggests some investors are still betting on a rebound in large-cap growth and AI-related stocks, which can support QQQ. Article Title
• Neutral Sentiment: BlackRock launched a competing Nasdaq-100 ETF, IQQ, which may increase competition in the category, but it also reinforces continued interest in Nasdaq-100 index products overall. Article Title
• Neutral Sentiment: Other articles focused on macro themes such as inflation, Fed policy, geopolitical tensions, and labor data; these can move QQQ through risk appetite, but they do not directly change the ETF’s fundamentals. Article Title
• Negative Sentiment: Several commentary pieces warned that higher inflation, a hawkish Fed, and geopolitical stress could pressure growth stocks and reduce appetite for Nasdaq-heavy exposure, which is a headwind for QQQ. Article Title

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.