Pinnacle Wealth Management Advisory Group LLC Has $37.95 Million Stake in Invesco QQQ $QQQ

Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.5% during the 1st quarter, HoldingsChannel reports. The fund owned 65,744 shares of the exchange traded fund’s stock after purchasing an additional 998 shares during the quarter. Invesco QQQ accounts for about 2.6% of Pinnacle Wealth Management Advisory Group LLC’s investment portfolio, making the stock its 7th largest holding. Pinnacle Wealth Management Advisory Group LLC’s holdings in Invesco QQQ were worth $37,946,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sequent Planning LLC increased its position in Invesco QQQ by 1.4% in the first quarter. Sequent Planning LLC now owns 4,847 shares of the exchange traded fund’s stock worth $2,798,000 after purchasing an additional 69 shares during the period. Wesbanco Bank Inc. lifted its position in Invesco QQQ by 3.1% during the 1st quarter. Wesbanco Bank Inc. now owns 26,256 shares of the exchange traded fund’s stock valued at $15,154,000 after purchasing an additional 778 shares during the period. Columbus Macro LLC boosted its stake in shares of Invesco QQQ by 14.1% in the 1st quarter. Columbus Macro LLC now owns 1,310 shares of the exchange traded fund’s stock valued at $756,000 after purchasing an additional 162 shares during the last quarter. Armbruster Capital Management Inc. boosted its stake in shares of Invesco QQQ by 8.4% in the 1st quarter. Armbruster Capital Management Inc. now owns 2,762 shares of the exchange traded fund’s stock valued at $1,594,000 after purchasing an additional 213 shares during the last quarter. Finally, Unique Wealth LLC grew its position in shares of Invesco QQQ by 30.4% during the 1st quarter. Unique Wealth LLC now owns 22,954 shares of the exchange traded fund’s stock worth $13,249,000 after buying an additional 5,357 shares during the period. Institutional investors own 44.58% of the company’s stock.

More Invesco QQQ News

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

QQQ opened at $706.52 on Friday. The firm has a 50 day simple moving average of $704.99 and a 200 day simple moving average of $642.79. Invesco QQQ has a fifty-two week low of $544.54 and a fifty-two week high of $748.65.

Invesco QQQ Increases Dividend

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

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.