Wedmont Private Capital decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,895 shares of the exchange traded fund’s stock after selling 1,086 shares during the period. Invesco QQQ makes up 0.7% of Wedmont Private Capital’s portfolio, making the stock its 22nd biggest holding. Wedmont Private Capital’s holdings in Invesco QQQ were worth $26,042,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Kintra Wealth LLC lifted its stake in Invesco QQQ by 8.0% during the second quarter. Kintra Wealth LLC now owns 45,145 shares of the exchange traded fund’s stock valued at $33,050,000 after purchasing an additional 3,336 shares during the last quarter. Morling Financial Advisors LLC grew its position in Invesco QQQ by 4.4% in the second quarter. Morling Financial Advisors LLC now owns 376 shares of the exchange traded fund’s stock worth $277,000 after buying an additional 16 shares during the last quarter. PCG Wealth Advisors LLC grew its position in Invesco QQQ by 0.8% in the second quarter. PCG Wealth Advisors LLC now owns 3,731 shares of the exchange traded fund’s stock worth $2,747,000 after buying an additional 28 shares during the last quarter. SFG Wealth Management LLC. increased its holdings in shares of Invesco QQQ by 10.5% in the second quarter. SFG Wealth Management LLC. now owns 2,629 shares of the exchange traded fund’s stock valued at $1,936,000 after buying an additional 249 shares in the last quarter. Finally, Nilsine Partners LLC increased its holdings in shares of Invesco QQQ by 2.9% in the second quarter. Nilsine Partners LLC now owns 3,042 shares of the exchange traded fund’s stock valued at $2,240,000 after buying an additional 86 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.
Invesco QQQ Stock Performance
Shares of NASDAQ:QQQ opened at $718.96 on Monday. The stock has a fifty day moving average of $711.26 and a 200-day moving average of $675.80. Invesco QQQ has a one year low of $555.60 and a one year high of $748.65.
Invesco QQQ Increases Dividend
Trending Headlines about Invesco QQQ
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: QQQ benefited from relative strength in the Nasdaq-100, while investor sentiment toward QQQ turned bullish ahead of the latest labor-market data. QQQ ETF edges higher as Nasdaq-100 outperforms
- Positive Sentiment: The August jobs report reportedly exceeded expectations, easing immediate concerns about a weakening labor market and supporting the “soft landing” or “Goldilocks” case for equities. That backdrop can help growth-focused technology stocks held by QQQ. Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Friday After August Jobs Report Tops Estimates
- Positive Sentiment: Analysts highlighted broad second-quarter earnings strength and a possible new capital-formation cycle, both of which could support continued demand for large-cap technology and artificial-intelligence companies represented in the Nasdaq-100. Second Quarter Earnings Show Breadth
- Neutral Sentiment: Trading was mixed across major ETFs, with some broad-market funds advancing and others declining. This suggests QQQ’s gains were driven more by Nasdaq-100 leadership than by a uniformly strong market. Exchange-Traded Funds Mixed, US Equities Lower After Midday
- Negative Sentiment: Investors are also weighing the possibility that resilient hiring and a separate report describing hot August inflation could delay rate cuts or even prompt a Federal Reserve hike. Higher interest rates generally pressure the long-duration growth stocks that dominate QQQ. Why The Fed Might Hike Rates After A Red-Hot August Inflation Report
- Negative Sentiment: Concerns that rising long-term Treasury yields could reflect inflation, fiscal pressure, or other structural risks create an additional valuation headwind for QQQ. Benign Or Malign? Reasons For The Rise In Long-Term U.S. Interest Rates
- Negative Sentiment: Profit-margin concerns surrounding the artificial-intelligence boom could weigh on several major QQQ holdings if heavy infrastructure spending fails to generate sufficient returns. The AI Boom Is Eating Its Own Margins
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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