Private Client Services LLC Reduces Position in Invesco QQQ $QQQ

Private Client Services LLC lessened its position in Invesco QQQ (NASDAQ:QQQ) by 24.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,694 shares of the exchange traded fund’s stock after selling 3,131 shares during the period. Invesco QQQ makes up 2.0% of Private Client Services LLC’s holdings, making the stock its 12th largest position. Private Client Services LLC’s holdings in Invesco QQQ were worth $7,171,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at $28,000. High Point Wealth Management LLC grew its position in Invesco QQQ by 68.0% during the second quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund’s stock valued at $31,000 after purchasing an additional 17 shares in the last quarter. Islay Capital Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $32,000. Financial Management Professionals Inc. grew its stake in Invesco QQQ by 83.3% in the second quarter. Financial Management Professionals Inc. now owns 55 shares of the exchange traded fund’s stock valued at $41,000 after purchasing an additional 25 shares in the last quarter. Finally, Bullseye Investment Management LLC acquired a new position in Invesco QQQ in the second quarter worth approximately $44,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 1.1%

Shares of Invesco QQQ stock traded up $8.09 during midday trading on Friday, reaching $750.12. 20,015,263 shares of the company’s stock traded hands, compared to its average volume of 48,518,805. Invesco QQQ has a 52 week low of $555.60 and a 52 week high of $754.54. The company’s 50 day simple moving average is $716.20 and its 200 day simple moving average is $692.01.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Monday, September 21st will be issued a dividend of $0.7514 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $3.01 dividend on an annualized basis and a dividend yield of 0.4%. This is a negative change from Invesco QQQ’s previous quarterly dividend of $0.8135.

Invesco QQQ News Summary

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

• Positive Sentiment: Investors remain optimistic that strong earnings, seasonal market strength, post-midterm-election enthusiasm and continued artificial-intelligence spending can support stocks even if interest rates stay elevated. This backdrop is favorable for QQQ’s technology-heavy holdings. Why Stocks Could Defy Higher Rates and Keep Rallying: ETFs to Watch
• Positive Sentiment: Recent market commentary points to solid fundamentals, historical October strength and continued investor confidence as reasons for optimism. These factors are helping sustain demand for growth-oriented ETFs such as QQQ. Uptober Is Here: 5 Reasons for Optimism
• Positive Sentiment: Reports highlighting resilient economic activity in data centers and manufacturing reinforce the investment case for AI infrastructure and related technology companies, several of which are significant Nasdaq-100 constituents. Real Economy Growth Highlights Data Centers and Manufacturing
• Neutral Sentiment: U.S. equity ETFs and futures traded mixed as investors assessed Micron’s results and new economic data. The uneven market action suggests investors are supporting QQQ while remaining selective about valuations and earnings outlooks. Exchange-Traded Funds and Equity Futures Up Pre-Bell Thursday
• Negative Sentiment: Persistent inflation and a strong economy could keep Treasury yields elevated, limiting the Federal Reserve’s ability to cut rates. Higher rates increase the discount rate applied to future technology earnings and remain the main risk to QQQ’s rally. The U.S. Economy Is Running Hot
• Negative Sentiment: Analysis indicating that inflation remains above the Fed’s target and that markets may be underestimating monetary-policy pressure could restrain gains in rate-sensitive growth stocks, including QQQ holdings. New Price Inflation Data Shows the Fed Has Missed Its Target

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.