Tucker Asset Management LLC Raises Stock Holdings in Invesco QQQ $QQQ

Tucker Asset Management LLC boosted its position in Invesco QQQ (NASDAQ:QQQ) by 29.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,535 shares of the exchange traded fund’s stock after purchasing an additional 13,469 shares during the period. Invesco QQQ accounts for about 10.8% of Tucker Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Tucker Asset Management LLC’s holdings in Invesco QQQ were worth $43,842,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Invesco QQQ during the fourth quarter worth about $25,000. High Point Wealth Management LLC increased its stake in shares of Invesco QQQ by 68.0% in the second quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund’s stock valued at $31,000 after buying an additional 17 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Invesco QQQ by 2,150.0% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock valued at $28,000 after buying an additional 43 shares during the last quarter. Shcp LLC bought a new position in Invesco QQQ in the 3rd quarter valued at approximately $27,000. Finally, Parvin Asset Management LLC acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $28,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ News Roundup

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

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $718.96 on Monday. Invesco QQQ has a one year low of $555.60 and a one year high of $748.65. The firm’s 50 day simple moving average is $711.26 and its 200 day simple moving average is $675.80.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders 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 is an increase from Invesco QQQ’s previous quarterly dividend of $0.73. This represents a $3.25 annualized dividend and a dividend yield of 0.5%.

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.