iA Global Asset Management Inc. Sells 27,429 Shares of Invesco QQQ $QQQ

iA Global Asset Management Inc. reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 32.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,006 shares of the exchange traded fund’s stock after selling 27,429 shares during the quarter. iA Global Asset Management Inc.’s holdings in Invesco QQQ were worth $32,326,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Carrera Capital Advisors increased its holdings in shares of Invesco QQQ by 99.3% during the fourth quarter. Carrera Capital Advisors now owns 2,316 shares of the exchange traded fund’s stock worth $1,423,000 after buying an additional 1,154 shares in the last quarter. Sovran Advisors LLC boosted its holdings in shares of Invesco QQQ by 8.0% in the 4th quarter. Sovran Advisors LLC now owns 18,032 shares of the exchange traded fund’s stock worth $11,212,000 after acquiring an additional 1,340 shares in the last quarter. Corepath Wealth Partners LLC boosted its holdings in shares of Invesco QQQ by 19.7% in the 4th quarter. Corepath Wealth Partners LLC now owns 8,723 shares of the exchange traded fund’s stock worth $5,471,000 after acquiring an additional 1,436 shares in the last quarter. Cane Capital Partners LLC bought a new stake in Invesco QQQ during the 4th quarter worth approximately $715,000. Finally, Asset Allocation Strategies LLC bought a new stake in Invesco QQQ during the 1st quarter worth approximately $18,142,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ News Summary

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

• Positive Sentiment: The Nasdaq and broader U.S. equity markets moved higher into month-end, helping support QQQ as investors rotated back into large-cap technology and growth names. Stock Market Today: Nasdaq Shows Its Might; This Tech Player Hits A New High (Live Coverage)
• Positive Sentiment: Several pieces pointed to continued strength in Nasdaq-100 ETFs, arguing the index still has room to climb and that seasonality, improving breadth, and technical momentum could keep inflows coming. 3 Reasons Investors Should Buy in July
• Positive Sentiment: SpaceX’s planned July 7 entry into the Nasdaq-100 could trigger estimated passive inflows into index funds that track the benchmark, including QQQ, creating a near-term demand tailwind. SpaceX Achieves Escape Velocity With Nasdaq Fast-Track
• Neutral Sentiment: Some commentary warned that the tech rally may be stretched, citing concentration risk in mega-cap names and prior weakness in the Nasdaq 100, which could temper enthusiasm for QQQ. Nasdaq 100 Flashes Warning Signs After 5-Day Slide: Is The Tech Rally Running Out Of Steam?
• Neutral Sentiment: Articles debating whether investors should hedge or diversify beyond mega-caps highlight concern about QQQ’s heavy tech concentration, but they do not signal an immediate fundamental problem for the fund. It’s Time To Hedge

Invesco QQQ Stock Up 1.7%

QQQ stock opened at $736.40 on Wednesday. The business has a fifty day moving average price of $708.42 and a 200 day moving average price of $644.38. Invesco QQQ has a fifty-two week low of $544.66 and a fifty-two week high of $748.65.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 22nd will be issued a $0.8135 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73. This represents a $3.25 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 22nd.

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.