Washburn Capital Management Inc. Sells 891 Shares of Invesco QQQ $QQQ

Washburn Capital Management Inc. decreased its position in Invesco QQQ (NASDAQ:QQQ) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,089 shares of the exchange traded fund’s stock after selling 891 shares during the quarter. Invesco QQQ accounts for approximately 13.1% of Washburn Capital Management Inc.’s holdings, making the stock its 3rd largest position. Washburn Capital Management Inc.’s holdings in Invesco QQQ were worth $22,562,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in Invesco QQQ in the fourth quarter worth $25,000. Shcp LLC bought a new position in shares of Invesco QQQ in the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of 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 period. Rachor Investment Advisory Services LLC acquired a new position in shares of Invesco QQQ in the 4th quarter valued at about $29,000. Finally, Islay Capital Management LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at about $32,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

QQQ traded up $2.23 on Friday, hitting $725.51. 26,367,856 shares of the company’s stock were exchanged, compared to its average volume of 40,630,508. Invesco QQQ has a twelve month low of $551.56 and a twelve month high of $748.65. The stock has a fifty day moving average of $718.41 and a two-hundred day moving average of $650.06.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.8135 per share. This represents a $3.25 annualized dividend and a dividend yield of 0.4%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, June 22nd.

Trending Headlines about Invesco QQQ

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

• Positive Sentiment: Several pieces pointed to QQQ as a favored way to buy the recent tech pullback, including coverage describing it as a top ETF to load up on during the sell-off and highlighting continued investor demand for Nasdaq-100 exposure. Article Title
• Positive Sentiment: Market chatter around strong Nasdaq-100 trading activity and bullish positioning suggests some investors are still betting on a rebound in large-cap growth and AI-related stocks, which can support QQQ. Article Title
• Neutral Sentiment: BlackRock launched a competing Nasdaq-100 ETF, IQQ, which may increase competition in the category, but it also reinforces continued interest in Nasdaq-100 index products overall. Article Title
• Neutral Sentiment: Other articles focused on macro themes such as inflation, Fed policy, geopolitical tensions, and labor data; these can move QQQ through risk appetite, but they do not directly change the ETF’s fundamentals. Article Title
• Negative Sentiment: Several commentary pieces warned that higher inflation, a hawkish Fed, and geopolitical stress could pressure growth stocks and reduce appetite for Nasdaq-heavy exposure, which is a headwind for QQQ. Article Title

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.