Pinnacle Wealth Management Advisory Group LLC Acquires 1,570 Shares of Invesco QQQ $QQQ

Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 2.4% during the 2nd quarter, Holdings Channel reports. The firm owned 67,314 shares of the exchange traded fund’s stock after purchasing an additional 1,570 shares during the quarter. Invesco QQQ comprises 3.0% of Pinnacle Wealth Management Advisory Group LLC’s holdings, making the stock its 5th largest position. Pinnacle Wealth Management Advisory Group LLC’s holdings in Invesco QQQ were worth $49,570,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Flatrock Wealth Partners LLC acquired a new position in Invesco QQQ during the 1st quarter valued at about $924,000. Hegarty Advisors LLC purchased a new stake in shares of Invesco QQQ in the first quarter worth approximately $2,212,000. Ascension Capital Advisors Inc. lifted its holdings in shares of Invesco QQQ by 643.8% in the first quarter. Ascension Capital Advisors Inc. now owns 3,094 shares of the exchange traded fund’s stock valued at $1,786,000 after purchasing an additional 2,678 shares in the last quarter. Financial Insights Inc. lifted its holdings in shares of Invesco QQQ by 6.8% in the second quarter. Financial Insights Inc. now owns 29,790 shares of the exchange traded fund’s stock valued at $21,938,000 after purchasing an additional 1,901 shares in the last quarter. Finally, First Bancorp Inc ME purchased a new position in shares of Invesco QQQ during the second quarter valued at approximately $677,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Trending Headlines about Invesco QQQ

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

• Positive Sentiment: QQQ continues to benefit from the strong performance of high-growth technology companies. A recent review noted that the ETF would have grown an investment roughly sixfold over the past decade, reinforcing investor interest in its Nasdaq-100 exposure. This ETF Would Have Increased Your Investment by 6x Over the Past 10 Years
• Positive Sentiment: Expectations that the Federal Reserve will not raise interest rates in the near term are supportive for growth stocks, whose valuations are especially sensitive to borrowing costs. There Will Be No Fed Rate Hikes
• Positive Sentiment: QQQ’s fee structure has reportedly improved after a structural change, potentially making the fund more competitive with lower-cost alternatives and helping retain long-term investors. QQQ Charged 0.20% for Years
• Neutral Sentiment: Investors are comparing QQQ with Invesco QQQM, which tracks the same Nasdaq-100 holdings but generally emphasizes lower costs. The comparison could encourage cost-conscious investors to favor QQQM, even though both funds provide similar underlying exposure. QQQ vs QQQM
• Negative Sentiment: Higher oil prices and concerns about inflation could pressure equities by keeping interest rates elevated. Upcoming CPI data is viewed as particularly important for determining the market’s next direction. Markets Move To The Downside Amid Uptick In Oil Prices
• Negative Sentiment: Articles warning of increased sell-off risk, stretched valuations and a potential AI bubble are a headwind for QQQ because technology and AI leaders represent a large share of the ETF. Risks Increased For A Stock Market Sell-Off

Invesco QQQ Stock Down 0.1%

Shares of NASDAQ:QQQ opened at $718.36 on Wednesday. The business’s 50 day moving average is $710.79 and its 200 day moving average is $677.43. Invesco QQQ has a 12-month low of $555.60 and a 12-month high of $748.65.

Invesco QQQ Increases Dividend

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