Invesco QQQ $QQQ Shares Acquired by Elevation Wealth Partners LLC

Elevation Wealth Partners LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 15.9% in the third quarter, HoldingsChannel.com reports. The firm owned 5,358 shares of the exchange traded fund’s stock after purchasing an additional 737 shares during the period. Invesco QQQ comprises about 1.1% of Elevation Wealth Partners LLC’s investment portfolio, making the stock its 23rd largest holding. Elevation Wealth Partners LLC’s holdings in Invesco QQQ were worth $3,964,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cooper Financial Group boosted its position in shares of Invesco QQQ by 2.6% during the third quarter. Cooper Financial Group now owns 81,366 shares of the exchange traded fund’s stock valued at $60,192,000 after buying an additional 2,044 shares during the last quarter. Canandaigua National Trust Co of Florida bought a new stake in Invesco QQQ during the third quarter worth $400,000. Bath Savings Trust Co raised its position in Invesco QQQ by 21.3% in the 3rd quarter. Bath Savings Trust Co now owns 2,245 shares of the exchange traded fund’s stock valued at $1,661,000 after buying an additional 394 shares during the last quarter. OxenFree Capital LLC raised its position in Invesco QQQ by 11.1% in the 3rd quarter. OxenFree Capital LLC now owns 3,080 shares of the exchange traded fund’s stock valued at $2,340,000 after buying an additional 308 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH lifted its stake in Invesco QQQ by 0.8% during the 3rd quarter. North Point Portfolio Managers Corp OH now owns 2,608 shares of the exchange traded fund’s stock valued at $1,931,000 after acquiring an additional 21 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ News Roundup

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

• Positive Sentiment: QQQ’s long-term momentum remains strong: the ETF is up more than 23% year to date and has significantly outperformed ARKK over the past five years. The gains reflect continued investor demand for profitable, large-cap technology and growth companies. Invesco QQQ Trust ETF Is Up 23 Percent Year to Date
• Positive Sentiment: A recent rally in technology stocks helped support QQQ, reinforcing the ETF’s exposure to the market’s strongest-performing sector. Optimism about technology earnings and AI-related growth continues to underpin demand. Markets Take Off As Tech Stocks Rally
• Neutral Sentiment: Economic commentary remains mixed. A weak September employment report could increase expectations for easier Federal Reserve policy, while other analysis suggests a U.S. recession is not imminent. The resulting uncertainty may keep QQQ volatile. September Employment Report
• Negative Sentiment: Broad-market ETFs and equity futures moved lower as traders awaited the Fed minutes. Any indication that rates may remain higher for longer could pressure QQQ’s high-growth holdings by reducing the value investors place on future earnings. ETFs and Equity Futures Down Before Fed Minutes
• Negative Sentiment: U.S. equities extended their decline after midday, signaling broad risk reduction rather than a QQQ-specific development. Exchange-Traded Funds Lower as U.S. Equities Decline
• Negative Sentiment: Commentary questioning whether an AI bubble is forming, along with warnings that Nasdaq valuations and market concentration have become stretched, creates a near-term risk of profit-taking in QQQ’s technology-heavy portfolio. Wall Street Breakfast Podcast: Pop Goes the AI Bubble

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $1.93 during trading hours on Wednesday, hitting $757.73. 25,325,128 shares of the company traded hands, compared to its average volume of 48,244,180. The firm’s 50-day simple moving average is $722.59 and its 200-day simple moving average is $696.46. Invesco QQQ has a one year low of $555.60 and a one year high of $762.86.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Monday, September 21st will be issued a $0.7514 dividend. This is a decrease from Invesco QQQ’s previous quarterly dividend of $0.8135. This represents a $3.01 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 21st.

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.