Private Advisory Group LLC Sells 30,290 Shares of Invesco QQQ $QQQ

Private Advisory Group LLC decreased its position in Invesco QQQ (NASDAQ:QQQ) by 40.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 43,982 shares of the exchange traded fund’s stock after selling 30,290 shares during the quarter. Invesco QQQ accounts for about 1.7% of Private Advisory Group LLC’s investment portfolio, making the stock its 11th biggest holding. Private Advisory Group LLC’s holdings in Invesco QQQ were worth $32,536,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in QQQ. Legacy Trust increased its position in Invesco QQQ by 4.9% during the third quarter. Legacy Trust now owns 1,355 shares of the exchange traded fund’s stock worth $936,000 after buying an additional 63 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Invesco QQQ by 9.0% in the third quarter. Russell Investments Group Ltd. now owns 160,236 shares of the exchange traded fund’s stock worth $118,537,000 after buying an additional 13,249 shares during the last quarter. Merrithew & Thorsten Inc lifted its position in shares of Invesco QQQ by 2.9% in the third quarter. Merrithew & Thorsten Inc now owns 28,956 shares of the exchange traded fund’s stock worth $21,421,000 after buying an additional 814 shares during the last quarter. ODonnell Financial Services LLC lifted its position in shares of Invesco QQQ by 0.9% in the third quarter. ODonnell Financial Services LLC now owns 1,810 shares of the exchange traded fund’s stock worth $1,339,000 after buying an additional 17 shares during the last quarter. Finally, Everest Financial Group LLC lifted its position in shares of Invesco QQQ by 25.3% in the third quarter. Everest Financial Group LLC now owns 1,758 shares of the exchange traded fund’s stock worth $1,301,000 after buying an additional 355 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.3%

QQQ opened at $688.17 on Friday. The stock has a 50-day moving average of $718.62 and a 200-day moving average of $681.57. Invesco QQQ has a 52-week low of $555.60 and a 52-week high of $762.86.

Invesco QQQ Cuts Dividend

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

Top Invesco QQQ Stories

These are some of the QQQ stories that stood out recently:

• Positive Sentiment: Some commentary argues the AI rally may be back on track, and CoreWeave’s earnings reportedly eased concerns about AI spending. That may support QQQ’s large technology and AI-related holdings. 5 Bullish Signs the AI Rally is Back on Track
• Negative Sentiment: Reports of Nvidia CEO Jensen Huang’s departure triggered a selloff in Nvidia shares, creating a headwind for QQQ because of the fund’s exposure to the chipmaker. Jensen Huang Is Out: Here’s How Much Nvidia’s Selloff Cost a $10,000 QQQ Position
• Negative Sentiment: Hot inflation and the possibility of tighter Federal Reserve policy could pressure growth-stock valuations, a risk for QQQ’s technology-heavy portfolio. CPI Pushes Rate Hike Odds to About 100%

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.