Fortune Financial Group Inc. boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) by 484.5% during the second quarter, Holdings Channel reports. The fund owned 10,942 shares of the exchange traded fund’s stock after acquiring an additional 9,070 shares during the period. Invesco QQQ makes up approximately 6.3% of Fortune Financial Group Inc.’s holdings, making the stock its 3rd biggest holding. Fortune Financial Group Inc.’s holdings in Invesco QQQ were worth $8,058,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after purchasing an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after purchasing an additional 176 shares during the last quarter. Jupiter Wealth Management LLC bought a new position in Invesco QQQ in the 2nd quarter worth approximately $290,000. Wealth Group Ltd. lifted its holdings in Invesco QQQ by 283.7% during the 2nd quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund’s stock worth $13,587,000 after buying an additional 18,210 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Invesco QQQ by 1,057.3% during the 2nd quarter. Invesco Ltd. now owns 33,063 shares of the exchange traded fund’s stock worth $18,239,000 after buying an additional 30,206 shares in the last quarter. Institutional investors and hedge funds 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: U.S. equities and exchange-traded funds advanced after midday, providing a favorable backdrop for QQQ’s Nasdaq-100 holdings. Exchange-Traded Funds Rise as US Equities Advance After Midday
- Positive Sentiment: An analysis describing a relatively inexpensive way to own artificial-intelligence exposure may reinforce demand for established technology companies represented heavily in QQQ. The Boring Way To Own AI Is Now The Cheap Way
- Positive Sentiment: Technical market commentary identified key support and resistance levels for QQQ and major holdings including Apple, Microsoft, Nvidia, Alphabet, Meta and Tesla, potentially encouraging dip-buying if support holds. How To Trade SPY, QQQ And 6 Mega Caps
- Neutral Sentiment: Market coverage said stocks were attempting to rebound while yields moved higher, leaving QQQ caught between improving risk appetite and pressure from higher borrowing costs. Markets Try To Bounce Back As Yields Head Higher
- Neutral Sentiment: Debate over Treasury policy, inflation, monetary support and U.S. market leadership is adding uncertainty to the interest-rate outlook, an important driver of growth-stock valuations. War, Inflation, And The Battle For Market Leadership
- Negative Sentiment: Credit-market risks may be underappreciated by AI-focused stocks, raising concerns about concentrated valuations and potential volatility among QQQ’s technology holdings. AI Stocks May Be Ignoring A Growing Risk Seen In Credit Markets
- Negative Sentiment: A hawkish interpretation of Federal Reserve minutes and the recent bond selloff could keep interest rates elevated, which generally weighs on high-growth technology stocks. Fed Minutes Lean Hawkish, But We Don’t Expect A Hike
Invesco QQQ Trading Up 0.4%
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 given a dividend of $0.8135 per share. This represents a $3.25 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, June 22nd. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.73.
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.
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Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ – Free Report).
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