Fortis Group Advisors LLC Sells 4,184 Shares of Invesco QQQ $QQQ

Fortis Group Advisors LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 10.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,813 shares of the exchange traded fund’s stock after selling 4,184 shares during the quarter. Invesco QQQ makes up approximately 4.2% of Fortis Group Advisors LLC’s investment portfolio, making the stock its 4th largest position. Fortis Group Advisors LLC’s holdings in Invesco QQQ were worth $26,372,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Clarus Group Inc. lifted its holdings in Invesco QQQ by 1.9% in the 2nd quarter. Clarus Group Inc. now owns 2,044 shares of the exchange traded fund’s stock valued at $1,505,000 after purchasing an additional 39 shares in the last quarter. Xcel Wealth Management LLC boosted its stake in Invesco QQQ by 3.7% during the 2nd quarter. Xcel Wealth Management LLC now owns 4,261 shares of the exchange traded fund’s stock worth $3,138,000 after purchasing an additional 151 shares during the last quarter. WealthBridge Capital Management LLC grew its holdings in shares of Invesco QQQ by 3.3% during the second quarter. WealthBridge Capital Management LLC now owns 30,264 shares of the exchange traded fund’s stock worth $22,287,000 after buying an additional 968 shares in the last quarter. Bogart Wealth LLC grew its holdings in shares of Invesco QQQ by 2.9% during the second quarter. Bogart Wealth LLC now owns 25,163 shares of the exchange traded fund’s stock worth $18,530,000 after buying an additional 703 shares in the last quarter. Finally, Stonebridge Financial Group LLC MO raised its position in shares of Invesco QQQ by 1.8% in the second quarter. Stonebridge Financial Group LLC MO now owns 3,561 shares of the exchange traded fund’s stock valued at $2,622,000 after buying an additional 62 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 0.7%

Shares of NASDAQ QQQ opened at $710.93 on Friday. The firm has a 50-day simple moving average of $713.92 and a 200-day simple moving average of $667.70. Invesco QQQ has a 52 week low of $555.60 and a 52 week high of $748.65.

Invesco QQQ Increases Dividend

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

Invesco QQQ News Summary

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

• Positive Sentiment: Investors continue to focus on artificial intelligence as a potential contributor to U.S. economic growth. Continued AI-related capital spending could support the earnings outlook for several large Nasdaq-100 constituents, including major semiconductor and cloud companies. How Much Is AI Contributing To U.S. Economic Growth?
• Positive Sentiment: QQQ had shown some recovery after an earlier selloff, indicating that investors were still willing to buy technology stocks on weakness. However, the rebound has not overcome broader rate and valuation concerns. QQQ ETF – Invesco QQQ Trust Trends Higher after Tuesday’s Slump
• Neutral Sentiment: Goldman Sachs agreed to acquire NEOS Investments, the issuer of the Nasdaq-100 High Income ETF. The transaction does not directly change QQQ’s holdings, but it highlights continued institutional demand for products tied to the Nasdaq-100 ecosystem. Goldman Sachs Just Paid $2.25 Billion for the Family Behind Your 14% Income Fund
• Negative Sentiment: Broad exchange-traded funds and U.S. equities declined during the session, creating direct selling pressure for QQQ and its large-cap technology holdings. Exchange-Traded Funds Fall as US Equities Decline After Midday
• Negative Sentiment: The 30-year Treasury yield reached its highest level since 2007 amid deficit and AI-spending concerns. Higher long-term yields reduce the relative appeal of high-valuation growth stocks and increase the discount rate applied to future technology earnings. 30-Year Treasury Yield Hits Highest Level Since 2007 as AI Spending and Deficits Collide
• Negative Sentiment: Federal Reserve meeting minutes were viewed as somewhat hawkish, reducing expectations for near-term monetary easing. The resulting pressure on interest-rate-sensitive stocks is particularly relevant for QQQ. Fed Minutes Lean Hawkish, But We Don’t Expect A Hike
• Negative Sentiment: Technical commentary noted that QQQ “gamma flipped,” potentially forcing market makers to sell as prices declined and amplifying short-term volatility. QQQ just gamma flipped

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.